HP set to split business into two next year, 5,000 more jobs lost

HP is reportedly looking to divide the company into two. As a result of this division, HP Inc. will focus on computing and printing while  Hewlett-Packard Enterprise will expand corporate computing, software, infrastructure and services as well as its finance division. This opens the company up to all sorts of possible partnerships and acquisitions from the likes of Lenovo or others. As with any major corporate restructuring for a company the size of HP, job losses are expected. Around 5,000 employees are expected to be cut.  This brings the number of job losses since Meg Whitman took over HP in 2011 to 55,000.

The quote from Whitman states, "The decision to separate into two market-leading companies underscores our commitment to the turnaround plan. It will provide each new company with the independence, focus, financial resources, and flexibility they need to adapt quickly to market and customer dynamics, while generating long-term value for shareholders."

Whitman is expected to be CEO fo the Enterprise division while remaining as Chairman of the PC and printing company.

Source: Recode