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Economy Briefs: HP merges company’s computer, printer units
Question of the Day
HP merges company’s computer, printer units
SAN FRANCISCO | Hewlett-Packard said Tuesday that it’s combining its computer and printer units to free up more cash for innovation in the rapidly evolving technology market.
HP declined to comment when asked whether the corporate reorganization would result in a cut in its workforce.
“We have no specific announcements about changes to headcount at this time,” an HP spokesman told Agence France-Presse.
The move comes as growth in the printer market, once a gold mine for the company, slows to a trickle and people increasingly turn to smartphones and tablets for their Internet needs.
HP last month reported lower quarterly net profit and revenue as slumping personal computer sales dragged down earnings at the world’s largest computer maker.
Mondelez was inspired by the suggestions of two Kraft employees. It is intended to evoke the idea of a “delicious world,” as “monde” is derived from the Latin word for “world” and “delez” calls to mind “delicious.”
Kraft announced in August that it would be splitting in two by the end of 2012 so both sides of the business could focus better on their priorities.
The North American grocery business will continue to carry the company name as Kraft Foods Group Inc., selling products such as Maxwell House coffee and Oscar Mayer meats. Its larger global snacks business will take on the new name to sell Trident gum and Cadbury chocolates in fast-growing countries worldwide.
Kraft said it asked employees from around the world to suggest names for the new company. More than 1,000 employees submitted more than 1,700 names for consideration. Mondelez International is a mix of suggestions from two employees one in Europe and one in North America.
By Andrew P. Napolitano
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