{"id":53838,"date":"2014-10-06T09:00:13","date_gmt":"2014-10-06T09:00:13","guid":{"rendered":"http:\/\/4cd.e16.myftpupload.com\/?p=53838"},"modified":"2014-10-06T08:33:50","modified_gmt":"2014-10-06T08:33:50","slug":"hp-to-split-into-two-companies","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/?p=53838","title":{"rendered":"HP to split into two companies"},"content":{"rendered":"<p id=\"story_continues_1\">Technology giant Hewlett-Packard, known as HP, plans to split itself into two companies, reports say.<\/p>\n<p>The US firm will separate its better-performing computer and printer business from its corporate hardware and services operations.<\/p>\n<p>HP is in the midst of a restructuring plan and has announced tens of thousands of job cuts in recent years.<\/p>\n<p>In August, it reported a sharp fall in profit despite a rise in revenue, helped by improved PC sales.<\/p>\n<p>Chief executive Meg Whitman, who has the job of reviving the fortunes of the 75-year-old firm, acknowledged at the time that demand for PCs was &#8220;coming back&#8221;, but that it was still &#8220;a declining business&#8221;.<\/p>\n<p><a href=\"http:\/\/online.wsj.com\/articles\/hewlett-packard-plans-to-break-in-two-1412530028\">The Wall Street Journal first reported<\/a>\u00a0on the split plans on Sunday, saying HP had been looking to focus on its faster-growing businesses.<\/p>\n<p>It says the move could be announced as early as Monday, and one of its sources said Ms Whitman would head the new spin-off, enterprise company.<\/p>\n<p>She will also reportedly be chairman of HP&#8217;s printing and PC business, which last quarter accounted for about half its revenue and profit.<\/p>\n<p><strong>Business pressures<\/strong><\/p>\n<p>HP has also been involved in a continuing legal dispute with Autonomy, a British company it bought for $11.1bn (\u00a37bn) in 2011.<\/p>\n<p>A year later, HP said the firm was worth $8.8bn less, accusing Autonomy of misleading them over the true value of the company.<\/p>\n<p>HP recently called for Autonomy&#8217;s founder and former boss, Michael Lynch, to &#8220;be held accountable for fraud&#8221;.<\/p>\n<p>The division of HP&#8217;s businesses comes at a time when other large tech firms are being urged to break up.<\/p>\n<p>Last week, online auction site eBay\u00a0<a href=\"http:\/\/www.bbc.co.uk\/news\/business-29423251\">announced it was splitting off its payments system PayPal<\/a>\u00a0into a separate company.<\/p>\n<p>HP has been under pressure from newer rivals such as Chinese firm Lenovo, which overtook HP as the world&#8217;s largest PC maker in 2012. Third-ranked US rival Dell was taken private last year.<\/p>\n<p>Founded by Bill Hewlett and Dave Packard in 1939, HP helped usher in the PC revolution and now has more than 300,000 employees globally.<\/p>\n<p>&nbsp;<\/p>\n<p>Source: BBC<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Technology giant Hewlett-Packard, known as HP, plans to split itself into two companies, reports say. The US firm will separate its better-performing computer and printer business from its corporate hardware and services operations. HP is in the midst of a restructuring plan and has announced tens of thousands of job cuts in recent years. In [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":53839,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[],"tags":[18],"class_list":["post-53838","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-dr-akwasi-osei"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/53838","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=53838"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/53838\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/53839"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=53838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=53838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=53838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}