HP to Split Into 2 Companies, Expected to Layoff 5,000 Additional Employees
U.S. indexes failed to build on Friday's rebound and closed the day slightly lower. Hewlett-Packard's (HPQ) stocks were up 6% after the announcement was made that the 75-year-old company is planning on splitting into two separate companies in hopes to add shareholder value and spur innovation. HP will split be separating its computer and printer business from the much faster-growing corporate hardware and services operations. The technology giant will also be eliminating an additional 5,000 jobs during this process.
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Published on Oct 6, 2014By InvestorGuide Staff