Hewlett-Packard to split into two companies

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Technology giant Hewlett-Packard, known as HP, is to split itself into two separate companies.

The US firm will separate its better-performing computer and printer business from its corporate hardware and services operations.

Shareholders will be given a stake in both businesses.

The split is part of a radical restructuring plan, which has already resulted in tens of thousands of job cuts in recent years.

The firm is now in the fourth year of its five-year turnaround plan, aimed at helping the firm adapt to the new era of mobile and online computing.

Current chief executive Meg Whitman, who has the job of reviving the fortunes of the 75-year-old firm, will head the new spin-off, Hewlett Packard Enterprise.