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HP may “dispose” of business units

January 2, 2013

The OEM’s 10-K filing, which outlined details on the Autonomy case, also mentions the potential sale of loss-making business units.

USA Market Buzz reported on the filing’s details, which also included information on the Autonomy mark-down issue. Referring to restructuring as HP’s “mantra” in 2013, the site notes that the OEM is “undertaking assessment” of business areas “which are not delivering up to the expectations”.

HP’s statement in the filing remarked: “We also continue to evaluate the potential disposition of assets and businesses that may no longer help us meet our objectives [… and] dispose of a business at a price or on terms that are less desirable than we had anticipated […] when we decide to sell assets or a business, we may encounter difficulty in finding buyers or alternative exit strategies on acceptable terms in a timely manner, which could delay the achievement of our strategic objectives.”

The article notes that HP “has plans to dispose of these units if they turn out to be non-performing for a time span of a year or more”, noting that a year ago such a move was not considered by the company, with CEO Meg Whitman previously stating she had no intentions to allow the company’s computing division to be broken up.

The site’s view is that the wording of the statement shows HP is keen to take action as well as not want to “carry on [in] any sector that is not meeting the targets” set, and that “it surely appears that the decision of evaluation and disposal, if required, is well thought over”.

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