"HP announced that it will be reducing its corporate head count due to AI-driven initiatives. The PC and printer company will cut between 4,000 and 6,000 jobs by the end of fiscal 2028. The company estimates it will save approximately $1 billion."
"HP on Tuesday announced it will cut between 4,000 and 6,000 jobs by the end of 2028 as it goes all-in on AI. The PC and printer company announced the cuts in its earnings report,estimating it will save approximately $1 billion by 2028 as it implements the changes. HP's stock was down more than 5% in after-hours trading at the time of publication."
HP will cut between 4,000 and 6,000 corporate positions by the end of fiscal 2028 as part of an AI-driven restructuring. The workforce reduction is expected to generate approximately $1 billion in savings by 2028. The reductions focus on corporate head count within the PC and printer business while reallocating resources toward artificial intelligence initiatives. The company reported the planned cuts in its earnings report and indicated implementation over the coming fiscal years. HP's stock fell more than 5% in after-hours trading following the announcement.
Read at Business Insider
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