Breaking up is hard to do, but HP isn’t looking back
Breaking up Hewlett-Packard is “totally the right thing to do for this company,” CEO Meg Whitman said Tuesday, after HP reported declines in revenue and profit for the last quarter.
“We’re going to make more progress as separate companies than as two companies together,” Whitman told financial analysts on a conference call.
But it’s a monumental task — “the biggest separation that’s ever been done,” according to Whitman.
And it’s not a typical break-up, where a company spins off a small part of its business. Each of the new HPs will be a behemoth in its own right, with about $57 billion in revenue.
HP announced last month that it will divide itself in two by around this time next year. One company, HP Inc., will sell its printers and PCs, while the other, Hewlett-Packard Enterprise, will sell its data center products and services.
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