[82lsju]

Nobody knows the pressure Wall Street analysts will put on companies to cut people when the 2nd quarter numbers come in. States are running out of money too.

already happening, in the small set of companies I follow as part of my job (data storage companies)

- HPE - https://www.marketwatch.com/story/hpe-is...2020-05-22 

Hewlett Packard Enterprise Co. has been down this restructuring road before.

In announcing a three-year “Cost Optimization and Prioritization Plan” Thursday to save more than $1 billion after a lousy quarter hit by the COVID-19 pandemic, executives of the information technology company announced their latest scheme to cut costs — much to the chagrin of Wall Street analysis.

- IBM - https://www.fiercetelecom.com/telecom/ib...uts-report [/url]

[url=https://www.wsj.com/articles/ibm-announces-first-job-cuts-under-new-chief-executive-11590113061]The Wall Street Journal (pay wall applies) reported that IBM will be cutting thousands of employees across several sectors at IBM, including the Global Technology Services (GTS) division, which offers IT outsourcing. Last month IBM announced it took a $900 million charge against earnings, largely to cover restructuring costs related to its GTS division.

- Dell - not layoffs but cutting salaries and some benefits - https://www.bloomberg.com/news/articles/...g-pandemic

Delll has suspended some employee benefits, signaling that the computer hardware giant is cutting costs to contend with the weakening global economy.

The company will discontinue contributions to employees’ 401(k) retirement plans under a matching program, beginning June 1 and continuing at least until the end of the fiscal year, Dell Chief Operating Officer Jeff Clarke wrote to employees in a recent memo, citing the contracting economy and estimates of shrinking spending on information technology.

Dell has also frozen external hiring, internal promotions and raises for the rest of the fiscal year, a person familiar with the matter said.

- Nutanix - not layoffs but furloughs - https://www.mercurynews.com/2020/05/04/c...-in-april/

“Due to the COVID-19 emergency and related government order and/or instructions and/or business circumstances, Nutanix is implementing two separate, one-week unpaid furloughs,” Nutanix stated in an April 21 letter to the state EDD. The EDD received the WARN notice on April 30

this week there will be earnings announcements from Pure Storage and NetApp so we'll see what they say (Dell and Nutanix also announce earnings but given what they already announced about employees I'd be surprised if they announced layoffs)

[82lsju]

Nobody knows the pressure Wall Street analysts will put on companies to cut people when the 2nd quarter numbers come in. States are running out of money too.

already happening, in the small set of companies I follow as part of my job (data storage companies)

- HPE - https://www.marketwatch.com/story/hpe-is...2020-05-22 

Hewlett Packard Enterprise Co. has been down this restructuring road before.

In announcing a three-year “Cost Optimization and Prioritization Plan” Thursday to save more than $1 billion after a lousy quarter hit by the COVID-19 pandemic, executives of the information technology company announced their latest scheme to cut costs — much to the chagrin of Wall Street analysis.

- IBM - https://www.fiercetelecom.com/telecom/ib...uts-report [/url]

[url=https://www.wsj.com/articles/ibm-announces-first-job-cuts-under-new-chief-executive-11590113061]The Wall Street Journal (pay wall applies) reported that IBM will be cutting thousands of employees across several sectors at IBM, including the Global Technology Services (GTS) division, which offers IT outsourcing. Last month IBM announced it took a $900 million charge against earnings, largely to cover restructuring costs related to its GTS division.

- Dell - not layoffs but cutting salaries and some benefits - https://www.bloomberg.com/news/articles/...g-pandemic

Delll has suspended some employee benefits, signaling that the computer hardware giant is cutting costs to contend with the weakening global economy.

The company will discontinue contributions to employees’ 401(k) retirement plans under a matching program, beginning June 1 and continuing at least until the end of the fiscal year, Dell Chief Operating Officer Jeff Clarke wrote to employees in a recent memo, citing the contracting economy and estimates of shrinking spending on information technology.

Dell has also frozen external hiring, internal promotions and raises for the rest of the fiscal year, a person familiar with the matter said.

- Nutanix - not layoffs but furloughs - https://www.mercurynews.com/2020/05/04/c...-in-april/

“Due to the COVID-19 emergency and related government order and/or instructions and/or business circumstances, Nutanix is implementing two separate, one-week unpaid furloughs,” Nutanix stated in an April 21 letter to the state EDD. The EDD received the WARN notice on April 30

this week there will be earnings announcements from Pure Storage and NetApp so we'll see what they say (Dell and Nutanix also announce earnings but given what they already announced about employees I'd be surprised if they announced layoffs)