Andre Yoskowitz
3 Jul 2015 22:46
Hewlett-Packard (HP) has filed the paperwork necessary to split the company on November 1st.
The filing, with the U.S. Securities Exchange Commission, details the balance sheets of the two new split companies, based on their past performances.
Hewlett-Packard Enterprise will sell servers, storage and network gear and also provide professional services, financial services, and software. HP Inc. will sell computers and printers and will be considered the parent company.
"We needed to be smaller, more nimble, we needed to be more focused," said CEO Meg Whitman during the company's announcement of the plans. "And we needed to have a capital structure for each company that would allow them to pursue their objectives."
HP, pre-split, is a massive company. There are over 300,000 employees spread out over 170 countries and there are currently 500 employees working solely on making sure the split goes smoothly.
Source:
WSJ