Just out from Bloomberg: HPE CFO SEES 2.7BN RESTRUCTURING LEADING TO 25K-30K JOB CUTS HP: BY 2018 40% OF ES EMPLOYEES WILL BE IN HIGH-COST LOCATIONS More details from Bloomberg on the latest restructuring bloodbath out of Hewlett-Packard : sees FY16 FCF $2b-$2.2b, with normalized FCF $3.7b. Sees FY16 adj. EPS $1.85-$1.95 Sees FY16 operating cash flow $5b-$5.2b Sees cutting 25k-30k jobs as part of restructuring, with GAAP charges $2.7b Sees returning at least 50% of FCF to holders through ~$400m in dividends and the remaining in share repurchases Says will consider strategic partnerships, investments and M&A “in the right circumstances” Earlier, co. said sees HPE cloud rev. ~$3b in FY2015 growing over 20% with similar pace expected over next “several years” Said enterprise services business on target for 7%-9% oper. margin target and for reducing $1.4b in costs for 2015; sees similar cost reduction pace continuing next year And so, dear 30,000 formerly-well paid computer engineers and technicians: welcome to the fast-food recovery. And don't forget to BTFD with all that spare cash. Now, where is that 25bps rate hike because the economy is just too strong...