HP officially files to split into two companies

Hewlett-Packard Co. filed paperwork this week with the U.S. Securities and Exchange Commission outlining the finances of the two businesses it plans to create.

The move marks a big step toward the company's planned Nov. 1 breakup into a printer-and-PC vendor called HP Inc. and a supplier of corporate technology called Hewlett Packard Enterprise, according to Dow Jones Newswires.

During the past decade, HP has struggled with declining revenue, corporate scandals and managements changes.

"We needed to be smaller, more nimble, we needed to be more focused," CEO Meg Whitman said. "And we needed to have a capital structure for each company that would allow them to pursue their objectives."

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