HP, in its current incarnation, is only a few hours away from going away. The Palo Alto, California-based technology giant is about to split into two companies; the change itself will be made on Sunday, November 1.
When that happens, one of the companies will be called simply HP Inc. That will be the one that most consumers are used to dealing with, as they will continue to make PC hardware devices, along with printers. It will be led by Dion Weisler as its CEO. The other company will be called Hewlett Packard Enterprise, which will offer businesses server computers, software and other tech services. It will be led by Meg Whitman, who currently is CEO of HP for the next few hours.
Both companies will still be huge organizations. Each is expected to bring in $50 billion in revenue every year. Whitman told The New York Times that the time had come to break HP apart so that both parts could work better:
"We're leaving behind a company that was very large, running two businesses that were very different," Ms. Whitman said in an interview at her headquarters last week. "We're creating two new big companies, not bite-sized morsels, with real capabilities to change things."
One interesting thing about the split is that the original offices of the founders of HP, William Hewlett and David Packard, are being sealed off with a separate entrance so that employees of both HP Inc and Hewlett Packard Enterprise can visit them. The garage where the first version of HP got started is also considered to be jointly owned by both new companies.
Source: New York Times