You are here: Home > Trading PC > HP Reportedly Merging Printer, PC Divisions

HP Reportedly Merging Printer, PC Divisions

PALO ALTO, Calif. (TheStreet) –
As HP(HPQ) continues to reshape itself under CEO Meg Whitman, there are reports that the technology giant will merge its printer and PC division into one arm.

According to AllThingsD, HP will merge its Imaging and Printing Group into the Personal Systems Group, and the combined unit will report to Executive Vice President Todd Bradley, citing sources familiar with the matter. Vyomesh “VJ” Joshi, who is in charge of Imaging and Printing, would leave the company.

It could be seen as a cost-cutting move, discussed by Whitman during HP’s last earnings call.

HP has been in flux since former CEO Leo Apotheker left the company in 2011. Nonetheless, Whitman believes the company can turn around, but warned that this will take time.

“It’s not easy work and it’s not a quick fix, but it holds the potential to improve the way we operate and execute, and it simply has to be done,” Whitman said during the call.

CNBC’s Jon Fortt confirmed the news on television.

Shares of HP were lower in Tuesday trading, off 0.9% to $24.12.

Interested in more on HP? See TheStreet Ratings’ report card for this stock.

Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices.

Written by Chris Ciaccia in New York

To follow the writer on Twitter, go to http://twitter.com/commodity_bull.

To submit a news tip, send an email to: tips@thestreet.com

To order reprints of this article, click here: Reprints

Tags: ,

  • Digg
  • Del.icio.us
  • StumbleUpon
  • Reddit
  • Twitter
  • RSS

Leave a Reply

Powered by WP Robot

  • RSS
  • Facebook
  • Google+
  • Twitter