HP to cut about 6,000 jobs by 2028, ramps up AI efforts

HP Inc said on Tuesday it expects to cut between 4,000 and 6,000 jobs globally by fiscal 2028 as part of a plan to streamline operations and adopt artificial intelligence to speed up product development, improve customer satisfaction and boost productivity.

Shares of the Palo Alto, California-based company fell 5.5% in extended trading.

HP’s teams focused on product development, internal operations and customer support will be impacted by the job cuts, CEO Enrique Lores said during a media briefing call.