Mike Nefkens, of HP Enterprise, soon to be DXC Technology, responded to a question about layoffs by referring to employees as "inventory" and stating, "well, you have to rotate inventory, right? Get rid of the old, obsolete stuff in favor of the new, fresh stuff"
Fact of the matter is, in a services company like HPE's ES, people are your assets, and knowledge, skill, and talent are valuable things not worth flushing away. Same goes for those customer-facing employees who have built relationships, or SMEs who build and maintain customer-facing applications.
I'd rather be called a "Resource" than "Inventory". HP/HPE/DXC has spent the last few years trashing morale and blissfully opening the floodgates wide open for brain drain, to replace experienced (but higher paid) people with warm bodies to satisfy existing contracts. IBM is following suit.