By Jonathan Davies

Hewlett Packard (HP) is planning to split its business into two separate companies, reports say.

The move was first reported by Wall Street Journal on Sunday. It is understood that HP's computer and printer business will be split from its corporate hardware and services operations.

The plans come as part of a major restructuring project which has already seen tens of thousands of jobs lost. HP chief executive Meg Whitman recently said that demand for PCs was "coming back" but conceded that it was still "a declining business".

In August, the tech giant announced a sharp fall in profits, despite improved revenues from higher PC sales.

Reports suggest Ms Whitman will be appointed chair of HP's PC and printer business.

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