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News HP Preparing For A Spinoff Set To Cut 30,000 Jobs From New...

HP Preparing For A Spinoff Set To Cut 30,000 Jobs From New Enterprise

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At Hewlett-Packard headquarters in Palo Alto, Calif.
At Hewlett-Packard headquarters in California Source: Google

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 Office Source: Google

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.

HP Employees- California Source: Google

“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 CEO of Hewlett-Packard Enterprise Source: Google

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.

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