As widely predicted, Hewlett-Packard (HP) is to end its sponsorship of the BMW WilliamsF1 Team at the end of the season.

In an official statement issued today, Cathy Lyons, the company's executive vice-president and chief marketing officer, said: "We have met our objectives and it is a natural moment for HP to conclude our relationship. We wish them all the best as they go in a new direction next season."

Only yesterday, HP revealed that it was shedding almost a thousand jobs in the UK, as part of a global effort to reduce its workforce by at least six thousand.

The partnership first began in 2000, when Compaq agreed a sponsorship deal with WilliamsF1, subsequently Compaq merged with Hewlett-Packard.

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HP ends BMW WilliamsF1 relationship

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