SECURITIES AND EXCHANGE COMMISSION
                            Washington D.C. 20549
                               
                                 FORM 8-K
                               
                               CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(d) OF
                     THE SECURITIES EXCHANGE ACT OF 1934
                               
                                
 Date of Report (Date of earliest event reported):    July 10, 1996
 
 HEWLETT-PACKARD COMPANY
 (Exact name of registrant as specified in its charter)
 
  California                           001-04423       94-1081436
 (State or other jurisdiction         (Commission     (IRS Employer
  of incorporation)                    File Number)    Identification No.)
 
 3000 Hanover Street, Palo Alto, California             94304
 (Address of principal executive offices)              (Zip Code)
 
 Registrant's telephone number, including area code:   (415) 857-1501
 
 __________________________________________________________________________
 (Former name or former address, if changed since last report)
 
 Item 5.  Other Events.
 
    On July 10, 1996, Registrant announced that it would discontinue
 manufacturing disk-drive mechanisms and cease operations of its Disk Memory
 Division located in Boise, Idaho and Penang, Malaysia.  The company also
 stated that the actions would result in a pre-tax charge against earnings
 of approximately $150 million in the company's 1996 fiscal third quarter,
 which ends July 31.
 
                                 SIGNATURE
                                
    Pursuant to the requirements of the Securities Exchange Act of 1934,
 as amended, the Registrant has duly caused this report to be signed on its
 behalf by the undersigned hereunto duly authorized.
 
 
                                    HEWLETT-PACKARD COMPANY
 
 
 Dated: July 31, 1996               By:  Robert P. Wayman, 
                                         Executive Vice President, 
                                         Finance and Administration 
                                         and Chief Financial Officer