HP Announces Plans To Split Company Into Two

HP Announces Plans To Split Company Into Two (Ping! Zine Web Tech Magazine) – On Monday Hewlett-Packard announced its plans to split the company into two separate companies, with one focusing on software and services and the other on PC and printing.

“Today’s announcement comes as HP approaches the fourth year of its five-year turnaround plan. Over this time, the company has executed successfully against its turnaround objectives, keeping customers and partners at the forefront,” says a press release from HP. “HP has reignited its innovations pipeline, strengthened its go-to-market capabilities, rebuilt its balance sheet, and inspired its workforce and management teams. The company is now positioned to accelerate performance, drive sustained growth and demonstrate clear industry leadership in key areas.”

In addition to the announcement of its split, HP also revealed that they will cut another 5,000 jobs as well as invest money “saved from lower headcount into research and development,” Forbes reports.

HP first announced plans to split the company in 2011, though plans were later canceled.