Upcoming HP split will cost over 30000 jobs
HP has been in a downward spiral these past few years. So far, CEO Meg Whitman has not been successful in pulling the global IT company back on track. Things have been so bad that Whitman announced major restructuring plans in October 2014 to split HP into HP Inc. and HP Enterprise. The former will focus on printers and PCs while the latter will focus on software and services at the business level.
During a 2015 Securities Analysts Meeting, Whitman detailed that she will continue to be CEO of Hewlett Packard Enterprise while Dion Weisler will head HP Inc. The new board members and split will be effective November 1.
Whitman warned last year that there could be up to 55000 lost jobs as a result. According to the new CFO of HP Enterprise Tim Stonesifer, a more updated number is about 33000 - 36000 cut jobs in order to save $2.7 billion USD for fiscal 2016.