Report: Hewlett-Packard To Split In 2 Companies

CBS Sacramento

WASHINGTON (AP) — Hewlett-Packard Co., the iconic maker of personal computers and printers, reportedly plans to split itself into two separate companies by spinning off its technology services business.

The Wall Street Journal reported the pending split Sunday citing people familiar with the matter, who said an official announcement could come as soon as Monday. A spokeswoman for HP declined to comment on the report.

The breakup would create one company that sells HP’s computers and printers and a second that focuses on technology services, including data storage, servers and software.

The Palo Alto, California-based company has laid off tens of thousands of employees in recent years due to flagging sales as consumers 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.

In its most recent quarter, HP posted revenue of $27.6 billion, up…

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