HP is planning to break up into two companies later this year, but that move will also result in up to 30,000 of its workers losing their jobs.

HP will break up its enterprise unit away from its PC business, and most of the layoffs will come from the enterprise division. The company will also take a one-time $2.7 billion restructuring charge. Once the spin-off is complete, the enterprise division will be called Hewlett Packard Enterprise, and will be led by current HP CEO Meg Whitman. HP Inc will include the PC business and will be led by Dion Weisler.

Source: Bloomberg