In a filing with the SEC, HP today confirmed their intentions to divide their company. They’ll retain the traditional HP name for consumer electronics like Laptops and Printers. A new organization named “Hewlett-Packard Enterprise” will retain their corporate solutions.
It would seem HP has had difficulties in selling off under-performing divisions, and now the company is revisiting the strategy laid out by Leo Apotheker back in 2011 before he was ousted as CEO.
This move also comes with the news that layoffs will increase from the expected 45,000 to 55,000 employees now expected to get cut during this transition.
Current CEO Meg Whitman will make the move to the new Hewlett-Packard Enterprise, while EVP of Personal Systems and Printing Dion Weisler will take over as the new head of HP.