New Delhi: HP Inc has announced that it plans to cut between 4,000 and 6,000 jobs worldwide by fiscal 2028 as part of a broader move to streamline operations and deepen its use of artificial intelligence.
The company said the reductions would speed up product development, enhance customer service and raise overall productivity.
Shortly after the announcement, HP’s shares fell 5.5 % in after‑hours trading.
During a media briefing, CEO Enrique Lores explained that workers in product development, internal operations and customer support would be hit by the layoffs.
He added that the cost‑cutting program is expected to generate roughly $1 billion in gross run‑rate savings over the next three years.
“We expect this initiative will create $1 billion in gross run rate savings over three years,” Lores added.
Earlier this year, HP had already released more than 2,000 employees as part of an ongoing restructuring plan.
The news comes amid a fresh wave of tech‑industry layoffs; according to layoff.fyi data, 21 companies cut 18,510 jobs in October alone.
Amazon recently revealed plans to eliminate over 14,000 corporate positions as it redirects focus and investment toward artificial intelligence.
The retailer said the layoffs are part of efforts to become leaner and reduce unnecessary bureaucracy, marking its largest corporate job cut in history.
By November, 20 tech firms had released 4,545 workers. Synopsys, a major chip‑design software company, carried out the month’s largest round, cutting about 2,000 jobs—roughly 10 % of its workforce.
A regulatory filing indicated the company reduced its staff to reallocate investment toward new growth opportunities.
To date in 2025, roughly 237 tech companies have laid off more than 1.1 million employees.
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