Hewlett-Packard Co. is splitting itself into two companies, one focused on its personal computer and printing business and another on technology services, such as data storage, servers and software, as it aims to drive stronger profitability.
The Palo Alto, California-based company has laid off tens of thousands of employees in recent years due to flagging sales as customers turn to mobile devices to perform basic computing chores. The shift has curbed demand for HP's desktop and laptop computers, as well as its printers.
Continue Reading Below
The company says the PC and printer business will use the name HP Inc. The services business will take the name Hewlett-Packard Enterprise.
HP CEO Meg Whitman will lead the Enterprise business. HP PC and printer chief Dion Weisler will be CEO of HP Inc.