HP prepares itself for huge losses in Q3 2012 after taking an $8 billion writedown in its services division, a good will impairment from the 2008 acquisition of EDS.
Four years ago HP bought EDS for $13.9 billion, folding it in the services arm which it renamed HP Enterprise Services (HP ES). The group now handles outsourcing contracts for HP.
The company is also going through further restructuring-- more employees are taking severance offers, leading to a $1.5-1.7bn charge as opposed to the original forecast of $1bn.
Then there are organisational Read more...