August 8, 2012 (Bloomberg) – HP raised its third-quarter earnings forecast after cutting jobs to reduce costs and announced a restructuring of its ailing enterprise-services division that includes an $8 billion writedown.
CEO Meg Whitman is eliminating positions across the company to counter slower demand for printers, services and data-center equipment. The writedown underscores the diminished value of the unit that provides computing services to companies – a business former CEO Mark Hurd (and current Oracle executive) bolstered in 2008 with the $13.2 billion purchase of Electronic Data Systems Corp.
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