It was the end of an era for Hewlett Packard. The 76-year old business technology giant spent the majority of 2015 undertaking one of the most complicated corporate separations in history. Although Hewlett Packard was still a massive company with annual revenue at over $100 billion, the rise of cloud computing and the weakening personal computer and printer market took a toll on Hewlett Packard, which continued to see sales decline each quarter. To better compete in the changing marketplace, CEO Meg Whitman led the effort to split the company into two separate businesses with the idea that each could better concentrate on their own specialties and react more quickly to market changes. Additionally, the technology giant announced that it would shed over 30,000 jobs before it officially split in November 2015. Now, Whitman is the CEO of Hewlett Packard Enterprise, which sells data center hardware and business software, while Dion Weisler leads printer and personal computer maker HP, Inc. Unfortunately for HPE and HP, the technology market continued its chill in early 2016 and both companies saw first quarter revenue declines.
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For up to $10 Billion
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