HP To Cut About 6,000 Jobs By 2028, Ramps Up AI Efforts

HP plans to cut 4,000-6,000 jobs by 2028 'as part of a plan to streamline operations and adopt artificial intelligence,' reports Reuters. From the report: 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. 'We expect this initiative will create $1 billion in gross run rate savings over three years,' Lores added. The company laid off an additional 1,000 to 2,000 employees in February, as part of a previously announced restructuring plan. Demand for AI-enabled PCs has continued to ramp externally, reaching over 30% of HP's shipments in the fourth quarter ended October 31.

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