HP Announces Job Cuts as Profit Outlook Misses Estimates

HP Inc. gave a profit outlook for current year that fell short of estimates and the company said it will cut 4,000 to 6,000 employees through fiscal 2028 by using more AI tools.

The PC and printer maker will exit 2028 with gross savings of $1 billion annually as a result of the cuts. The savings will come from HP applying AI tools to areas like product development, customer support, sales and manufacturing, Chief Executive Officer Enrique Lores said in an interview. “It’s something we have to do to make sure the company stays competitive,” he said.