*NEWS*HIGH HOPES FOR HP PRINT UNIT

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*NEWS*HIGH HOPES FOR HP PRINT UNIT

 user 2005-08-10 at 11:22:00 am Views: 91
  • #12346

    High hopes for HP print
    unit

    Aug05
    Hewlett-Packard
    (HP) has announced a shake up of its imaging and printing unit, with VJ Joshi,
    EVP of the printer group, aiming to double the unit’s revenue within a decade.

    Joshi, who has headed the printer group since its division from the
    company’s PC unit in June, has been reducing investment in basic products and
    has increased expenditure in potential growth areas, such as digital photography
    and publishing.

    On 12 July, the company unveiled faster inkjet technology that reduces photo printing time
    by half. It has also announced a photo printing deal with the Walgreen drugstore
    chain.

    As well as splitting the PC and printing units, new CEO Mark Hurd
    is also carrying out restructuring at a larger level as part of a wide-reaching
    strategy to cut costs. HP has announced it will cut 14,500 jobs – about 10 per
    cent of its full-time staff – over the next six quarters.

    It is hoped
    that the job cuts, which will mostly come in support funtions such as IT, human
    resources and finance, will save the company $1.9 billion annually and increase
    efficiency to the same levels as rival
    Dell.