Reuters: For its third fiscal quarter, HP posted a $8.9 billion loss due primarily to a $10.8 billion writedown of its $13.9 billion acquisition of EDS. The company reported net revenue of $29.7 billion, a 5 percent year-over-year decrease. Revenue from the PC division showed the biggest drop--10 percent--with revenue of $8.6 billion.
HP is in the midst of a global restructuring effort which will reduce its headcount by 8 percent. It eliminated 4,000 jobs during the most recent quarter and expects to have cut 11,500 jobs by the end of the year.
"We are still in the early stage of the turnaround. There will be challenges ahead that could create some variability in performance," said HP CEO Meg Whitman. "But I'm confident in our ability to work through them and get to where we want to be."
One of the ways around the issues of security and control that make some businesses wary of cloud computing is to build a private cloud -- one that remains within the corporate firewall and is wholly controlled internally. Private clouds also increase the agility of IT an organization's IT infrastructure and make it easier to roll out new technology projects. Download this eBook to get the facts behind the private cloud and learn how your organization can get started.