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HP to take $8 billion charge for EDS purchase

HP to swallow $8 billion hit thanks to the purchase of EDS

| Business, Financial & Legal News | Posted: Aug 20, 6841 7:44 pm

HP looks to be taking a considerable hit for their purchase of EDS, where they're looking at a $8 billion in pre-tax assets as part of an "impairment of goodwill" in relation to the purchase of Electronic Data Systems (EDS). Not only that, but the company is looking to get hit by a pre-charge of around $1.5 billion in Q3 to handle employees that are deciding to take early retirement packages.


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John Visentin was head of HP's Enterprise Services Unit, and has decided to leave in order to pursue other interests, with this move promoting Mike Nefkens into Visentin's previous position in the interim. More shifts have taken place, with Jean-Jacques Charhon moving into the position of CEO for the division, where he reports to his new boss, Nefkens.


HP have said that the shuffle is to help service innovation, profits, and I'm sure the most important: customer satisfaction. Third-quarter earnings should be up $1 per share, from the previous estimates of between 94 to 97 cents.


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