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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsHewlett-Packard to split into two public companies, lay off 5,000
(Reuters) - Hewlett-Packard Co (HPQ.N) said it would split into two listed companies, separating its computer and printer businesses from its faster-growing corporate hardware and services operations, and eliminate another 5,000 jobs as part of its turnaround plan.
HP said its shareholders would own a stake in both businesses through a tax-free transaction next year, the details of which still needed to be worked out.
A spinoff of the PC business was last proposed in 2011 by then-Chief Executive Leo Apotheker as the company struggled in the highly competitive PC market. HP later ditched the plan - and Apotheker, replacing him with current CEO Meg Whitman.
"Make no mistake, one HP was the right thing to do to begin the turnaround of this company," Whitman said on a conference call. "But now ... this is definitely the right tactic."
http://www.reuters.com/article/2014/10/06/us-hp-restructuring-idUSKCN0HV0U720141006
just don't eff my my little pension
shenmue
(38,506 posts)It happens when ever you screw over the workers and put the difference in the pockets of the executives.
magical thyme
(14,881 posts)I didn't bother to post it because I figured it's a given.
Cirque du So-What
(25,927 posts)I was thinking exactly along those lines. Workers getting the shaft warms the cockles of shareholders' hearts.