The new projects will be broader in scale and designed to better commercialise the research.
Projects will now be divided into five specific areas: 'information management', 'green computing', 'network infrastructure', 'cloud computing' and 'data transfers'. Each of HP's 23 labs will operate under a single Labs logo.
HP hopes that the reshuffle will allow the company to put its research efforts to business use more efficiently.
"HP Labs has a long history of delivering innovation that has changed the way people use technology," said HP chief executive Mark Hurd.
"The steps we are taking today will further strengthen HP Labs and help ensure that HP is focused on groundbreaking research that addresses customer needs and creates new growth opportunities for the company."
Cloud computing will be of special interest, as HP sees the industry moving beyond the 'software-as-a-service' model to a new structure which Hurd refers to as "everything as a service".
Shane Robison, executive vice president and chief strategy and technology officer at HP, said: "The next wave of services will anticipate the needs of people based on a real-time understanding of an individual's location and preferences."
New light-guiding nanoscale device can control and monitor a nanoparticle trapped in a laser beam with high sensitivity
Optical traps are scientific instruments in which a focused laser beam is used to exert an attractive or repulsive force on a microscopic object to hold it in place
Scientists estimate that the exoplanet has already lost up to 35 per cent of its mass over its lifetime
The observations were made using the Atacama Array in the Chilean desert
J1043+2408 was observed for more than 10 years, and its radio light curve exhibited a periodic signal repeating in about 563 days