HP Inc. has announced plans to reduce its global workforce by 4,000 to 6,000 employees by 2028 as part of efforts to streamline operations, boost productivity, and accelerate product development. The reductions will primarily affect teams in product development, internal operations, and customer support.
CEO Enrique Lores stated that the cuts are expected to save the company approximately $1 billion in gross run rate over three years. The move comes amid rising demand for AI-enabled PCs, increasing memory chip costs, and intensifying competition in the consumer electronics sector.
Earlier this year, HP had reduced about 2,000 positions globally and indicated that workforce adjustments would be carried out in consultation with local labour associations, complying with country-specific regulations. In November 2022, the company had also outlined a plan to cut up to 6,000 jobs over three years under its “future-ready strategy,” which aimed to control costs and reduce its real-estate footprint amid market challenges.
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