dcsimg

HP Takes $8 Billion Writedown on Services Arm

The company said the charge was necessary because of "the impairment of goodwill" in its enterprise services division.

WEBINAR:
On-Demand

How to Help Your Business Become an AI Early Adopter


PCWorld: HP has announced that it will write down $8 billion in the third quarter due to weakness in its enterprise services division. The writedown is related to "the impairment of goodwill," which in the financial world refers to intangible assets, including brand value.

As part of the same announcement, HP said that Mike Nefkens, senior vice president and general manager of Enterprise Services EMEA, will now lead the entire enterprise services division. He will replace John Vistenin, who joined the team during former CEO Leo Apotheker's tenure.




Tags: services, HP, Enterprise


0 Comments (click to add your comment)
Comment and Contribute

 


(Maximum characters: 1200). You have characters left.

 

 

IT Management Daily
Don't miss an article. Subscribe to our newsletter below.

By submitting your information, you agree that datamation.com may send you Datamation offers via email, phone and text message, as well as email offers about other products and services that Datamation believes may be of interest to you. Datamation will process your information in accordance with the Quinstreet Privacy Policy.





×
We have made updates to our Privacy Policy to reflect the implementation of the General Data Protection Regulation.