Overview
- The reductions, confirmed by HP, are phased through 2028 and could exceed 10% of the roughly 58,000-person global workforce.
- HP says the overhaul will reshape product development, internal operations and customer service as it automates more tasks with AI.
- CEO Enrique Lores told the Wall Street Journal the company plans to raise PC prices and add new suppliers to offset higher AI computing costs.
- The announcement followed quarterly results showing revenue of $14.64 billion that topped expectations, while profit guidance lagged analyst estimates.
- The move extends earlier 2025 cuts of 1,000–2,000 roles and aligns with a broader wave of tech layoffs tracked this year as companies reallocate spending toward AI.