Hewlett-Packard Co. better known as HP is preparing for a Spinoff and is set to cut 30,000 jobs from the new enterprise. The purge was announced on tuesday and will occur within the newly formed Hewlett-Packard enterprise which is a bundle of technologies comprising of software, consulting and Data analysis. The enterprise is reportedly splitting from the company’s personal computer and printing operations.
HP is set to doom the jobs of 25,000 to 30,000 employees which equals to 10-12 percent of the workers, in a spinoff to be scheduled in the next month in an effort to reduce the company’s expenditure by $2 billion annually.
“Hewlett Packard Enterprise will be smaller and more focused than HP is today,” Whitman said in a statement.
“As a separate company, we are better positioned than ever to meet the evolving needs of our customers around the world,” said Meg Whitman.
Meg Whitman, H-P CEO, is becoming CEO of Hewlett Packard Enterprise, a company focused on software and services for corporate clients. It will trade under the ticker symbol HPE.