Is HP Cutting 6,000 Jobs by 2028?
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Synopsis
In a significant move, HP Inc announces plans to cut up to 6,000 jobs globally by 2028, aiming to enhance operational efficiency and leverage artificial intelligence. This decision reflects broader trends in the tech industry where layoffs are becoming increasingly common.
Key Takeaways
- HP plans to cut 4,000 to 6,000 jobs by fiscal 2028.
- The company aims to enhance its operations and leverage artificial intelligence.
- Job cuts are expected to yield approximately $1 billion in savings.
- HP's stock dropped 5.5 percent following the announcement.
- This trend of layoffs is prevalent across the tech industry.
New Delhi, Nov 26 (NationPress) HP Inc has revealed plans to eliminate 4,000 to 6,000 positions worldwide by fiscal 2028 as part of a broader initiative to optimize its operations and enhance its integration of artificial intelligence.
The organization stated that this strategy will expedite product development, elevate customer service, and enhance overall productivity.
In the wake of this announcement, HP's stock declined by 5.5 percent in after-hours trading.
HP's CEO, Enrique Lores, indicated in a press conference that layoffs would impact employees in product development, internal operations, and customer support.
He further noted that this cost-reduction strategy is projected to yield approximately $1 billion in gross run-rate savings over the next three years.
"We anticipate this initiative will generate $1 billion in gross run-rate savings over three years," Lores stated.
Earlier this year, HP had already terminated more than 2,000 employees as part of an ongoing restructuring effort.
This announcement emerges amid a fresh wave of layoffs sweeping through the tech sector. As per data from layoff.fyi, 21 companies laid off a total of 18,510 employees in October alone.
Amazon has also recently disclosed plans to cut over 14,000 corporate jobs as it pivots more towards artificial intelligence.
The organization stated that these layoffs are part of its strategy to streamline operations and mitigate unnecessary bureaucracy, marking the most significant round of corporate job losses in Amazon's history.
In November alone, 20 tech firms have already laid off 4,545 workers. Synopsys, a prominent chip-design software firm, executed the largest layoffs this month, reducing its workforce by about 2,000 jobs, which is roughly 10 percent of its total staff.
A regulatory filing indicated that the company reduced its personnel to channel investments toward new growth avenues.
As of 2025, approximately 237 tech companies have let go of more than 1.1 million employees.
Point of View
We recognize the serious impact of HP's decision on its workforce and the broader tech industry. Layoffs are a challenging reality in today's economic climate, yet they reflect an ongoing transition towards efficiency and innovation. While this decision is difficult for affected employees, it underscores the pressing need for companies to adapt and evolve in a rapidly changing market.
NationPress
26/11/2025
Frequently Asked Questions
What is the reason behind HP's job cuts?
HP is implementing job cuts to streamline operations and enhance its use of artificial intelligence, which is expected to improve productivity and customer service.
How many jobs will HP cut?
HP plans to cut between 4,000 and 6,000 jobs worldwide by fiscal 2028.
What financial impact is expected from these layoffs?
The layoffs are projected to generate around $1 billion in gross run-rate savings over the next three years.
How have HP's stocks reacted to this announcement?
Following the news, HP's shares fell by 5.5 percent in extended trading.
Is HP the only tech company laying off employees?
No, many tech companies are experiencing layoffs. In October alone, 21 companies laid off over 18,510 employees.
