NEW DELHI — HP Inc. said on Wednesday that it will eliminate between 4,000 and 6,000 jobs globally by fiscal 2028 as the company accelerates its shift toward artificial intelligence and restructures operations to improve efficiency.
The tech giant said the cuts are intended to streamline internal processes, speed up product development, enhance customer service, and strengthen overall productivity. The announcement sent HP’s shares down 5.5 percent in after-hours trading.
HP CEO Enrique Lores said employees in product development, internal operations, and customer support will be among those affected. He added that the broader cost-cutting program is projected 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 said during a media briefing.
The company has already laid off more than 2,000 employees earlier this year as part of an ongoing restructuring effort.
HP’s decision comes amid a renewed wave of layoffs across the global technology sector. According to layoff.fyi, 21 companies cut 18,510 employees in October alone.
Amazon recently announced plans to eliminate more than 14,000 corporate positions as it redirects investment toward AI initiatives. The move would mark the largest round of corporate layoffs in Amazon’s history.
In November so far, 20 tech firms have laid off an additional 4,545 workers. Synopsys, a major chip-design software provider, enacted the largest cut this month by shedding about 2,000 employees, or roughly 10 percent of its workforce, according to regulatory filings that attributed the reductions to a shift toward new growth opportunities.
Across 2025 to date, 237 technology companies have laid off more than 1.1 million employees.
