Hewlett Packard to go separate ways after more than 70 years
- 10 years ago
Tell today’s techno-geeks that back in the 60s Hewlett Packard’s brand was spoken of in similar awe to Apple’s today and you may get why news the computer pioneer is splitting sounds like the end of an era.
Computers and printing will go one way, with stockholders getting tax-free shares in a new company, while corporate hardware and services will form a separate arm.
Today HP employs around 300.000 people, and computers and printers provide about half its profits and revenue. But it has struggled to keep pace with the mobile and internet revolutions and has been looking for ways to optimise profit through restructuring for years.
Computers and printing will go one way, with stockholders getting tax-free shares in a new company, while corporate hardware and services will form a separate arm.
Today HP employs around 300.000 people, and computers and printers provide about half its profits and revenue. But it has struggled to keep pace with the mobile and internet revolutions and has been looking for ways to optimise profit through restructuring for years.