The U.S. tech giant plans to cut around 6,000 jobs by 2028
According to the Sedaye Sama News Agency, According to CNN, the American company HP announced that it will cut between 4,000 and 6,000 jobs worldwide by the 2028 fiscal year.
The report states that the workforce reduction is part of the company’s plan to reorganize operations and leverage artificial intelligence to accelerate product development, improve customer satisfaction, and increase efficiency.
Enrique Lores, CEO of HP, stated that teams focused on product development, internal operations, and customer support will be affected by this workforce reduction.
He added, “We expect this initiative to generate approximately $1 billion in gross savings for the company over three years.”
In February, as part of its restructuring plan, the company also laid off an additional 1,000 to 2,000 employees.
Demand for AI-enabled personal computers continues to rise globally. In the fourth quarter, which ended on October 31, these products accounted for more than 30% of HP’s total shipments.
Morgan Stanley experts have warned that a global surge in memory chip prices, driven by increasing demand from data centers, could raise costs and pressure profits for consumer electronics companies, including HP, Dell, and Acer.
The pressure from major tech companies to develop AI infrastructure has led to higher prices for DRAM and NAND memory chips—two common types of memory—and intense competition in the server market.
Lores noted that HP expects to feel the impact of these price increases in the second half of fiscal year 2026, a period during which further price hikes are anticipated.
He also said the company has sufficient inventory for the first half of the same year.
The CEO added, “We are taking a cautious approach to our second-half performance guidance while simultaneously implementing aggressive measures such as approving lower-cost suppliers and making price adjustments.”
Source: Tasnim
