This was the stock's second consecutive day of losses.

Spring-based Hewlett Packard Enterprise has revealed it is set to lay off an estimated 2,500 workers following disappointing economic performance.

HPE plans to cut about 2,500 employees over the next 18 months to reduce costs, despite a revenue increase of 16.9% in the recent quarter. The exact impact on Houston staff is unspecified.

The technology company in recent years relocated its corporate headquarters from Silicon Valley to the Houston area.

Hewlett Packard Enterprise ( HPE -15.84%) stock collapsed in a 15.2% rout (through 9:50 a.m. ET) this morning after reporting mixed earnings last night, and forecasting a significantly worse 2025 than most Wall Street analysts had been expecting.

The stock's rise snapped a three-day losing streak.