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HP to detail restructuring Tuesday morning

HP to detail restructuring Tuesday morning

HP's will give details of a restructuring plan Tuesday morning, the company said late Monday.

HP will hold two press conferences this week to discuss the details of its expected restructuring plan.

Separate phone conferences for financial analysts and reporters would be held in order to provide details of a company restructuring plan, HP said in a press release.

The company is expected to announce as many as 25,000 layoffs, according to financial analyst reports circulated over the past few weeks.

New CEO, Mark Hurd, has already made some changes to HP's structure. Shortly after taking over in late March, he separated its printer and PC divisions and brought in former PalmOne executive, Todd Bradley, to run the PC group, undoing a move his predecessor, Carly Fiorina, had made in January.

Hurd undertook similar steps with the company's marketing and IT groups, separating sales from marketing and IT from supply chain and bringing in new executives to run the marketing and IT departments.

The new layoffs are expected to hit HP's software, IT, and servers and storage groups especially hard, according to senior analyst with Cabot & Moors, Cindy Shaw.


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