HP is reportedly going to merge its printer and PC arms to try to cut costs.
PALO ALTO, Calif. (TheStreet) - As HP(:HPQ) continues to reshape itself under CEO Meg Whitman, there are reports that the technology giant will merge its printer and PC division into one arm.
According to AllThingsD, HP will merge its Imaging and Printing Group into the Personal Systems Group, and the combined unit will report to Executive Vice President Todd Bradley, citing sources familiar with the matter. Vyomesh "VJ" Joshi, who is in charge of Imaging and Printing, would leave the company.
It could be seen as a cost-cutting move, discussed by Whitman during HP's last earnings call.
HP has been in flux since former CEO Leo Apotheker left the company in 2011. Nonetheless, Whitman believes the company can turn around, but warned that this will take time.
"It's not easy work and it's not a quick fix, but it holds the potential to improve the way we operate and execute, and it simply has to be done," Whitman said during the call.
CNBC's Jon Fortt confirmed the news on television.
Shares of HP were lower in Tuesday trading, off 0.9% to $24.12.
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--Written by Chris Ciaccia in New York
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