The pandemic is acting as tech’s reverse Robin Hood. Firms treading water are finding their problems aggravated, while emerging winners are growing faster.
Hewlett Packard Enterprise, the storage and server firm, said Thursday it would save $1 billion by reducing pay and other costs. IBM is slashing jobs. And Dell Technologies is cutting benefits, according to Bloomberg. Meanwhile, chipmaker Nvidia said on Thursday revenue rose 39% last quarter, and growth will be faster than expected this quarter.