Notebookcheck

Hewlett-Packard to split in two

Hewlett-Packard to split in two companies
Hewlett-Packard logo
The company plans to split its business services and hardware operations from the PC and printing businesses.

Working For Notebookcheck

Are you a techie who knows how to write? Then join our Team! Especially English native speakers welcome!

Currently wanted: 
News and Editorial Editor - Details here

Tech giant Hewlett-Packard, widely referred to as HP, has plans to divide its business into two separate companies. The company reported a serious profit drop back in August, despite a revenue rise fueled by PC sales. HP is currently going through a restructuring phase and has cut tens of thousands of jobs in the last few years.

According to a report published yesterday by The Wall Street Journal, Hewlett-Packard "intends to announce the move on Monday" and "is expected to make the split through a tax-free distribution of shares to stockholders next year." The PC and printer business will be handled by a company called HP Inc., while corporate operations will be run under the Hewlett-Packard Enterprise name. Current CEO Meg Whitman is expected to become chairman of HP Inc. while lead independent director Patricia Russo will be the head of Hewlett-Packard Enterprise.

If the process completes as expected, the resulting companies will have over $50 billion of annual revenue. As mentioned above, the official announcement of the split should come out later today, so stay tuned.

Source(s)

static version load dynamic
Loading Comments
Comment on this article
Please share our article, every link counts!
> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2014 10 > Hewlett-Packard to split in two
Codrut Nistor, 2014-10- 6 (Update: 2014-10- 6)
Codrut Nistor
Codrut Nistor - News Editor
Although I have been writing about new software and hardware for almost a decade, I consider myself to be old school. I always enjoy listening to music on CD or tape instead of digital files and I will not even get into the touchscreen vs physical keys debate. However, I also enjoy new technology, as I now have the chance to take a look at the future every day. I joined the Notebookcheck crew back in 2013 and I have no plans to leave the ship anytime soon.