HPE and IBM cuts US jobs $1B cost-cutting

Hewlett Packard Enterprise (HPE) says it will cut jobs and lower exec pay as part of a $1B cost-cutting plan; HPE will also simplify its product lineup, address its real estate strategies, and more; comes as the company reports a 16 percent drop in quarterly sales – Link

IBM has cut an undisclosed number of jobs across five US states, reports Bloomberg; the report, citing internal comms, estimates the figure is in the thousands; IBM has laid of staff in NC, CA, PA, NY, and MO – Link

Taiwan-based social media firm M17 Entertainment sells its online dating unit Paktor to Kollective Ventures; terms undisclosed; M17 says the move will allow it to focus on its live streaming platform, which it plans to expand to new markets including the US and Middle East – Link

Israel-based remote working firm Monday.com has seen its valuation rise 42 percent to $2.7B following secondary share sales, according to Bloomberg sources; the company was valued at $1.9B upon its last funding round in 2019; Monday.com provides a suite of online collaboration tools – Link

This Week in Startups: The Power of Accelerators

Jason speaks with Capital Factory Founder and CEO Joshua Baer about lessons from investing in 400-plus startups, best practices for transitioning accelerators to remote programs, insights on the cancelation of SXSW, more – Link