Hewlett-Packard confirmed on Monday that it will split the company into two new corporations, one focused on PCs and printers and the other on its enterprise businesses.
News of the split was first reported by the Wall Street Journal on Sunday. On Monday, HP disclosed in a filing with the U.S. Securities and Exchange Commission that it would proceed with the plan, which is expected to be completed by the end of the fiscal year 2015.
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HP’s split arrives less than a week after eBay’s decision to spin-off PayPal into a separate, public company.
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In addition, the company said it would increase a previous layoff plan announced under Whitman by 5,000 employees, bringing the total to 55,000.
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