HP to cut up to 6,000 jobs as part of a new cost-cutting plan

HP Inc. is launching a company-wide restructuring plan to accelerate innovation in AI-enabled devices to improve productivity. The company anticipates this initiative will generate approximately $1 billion in annual gross savings by the end of fiscal year 2028. The plan, announced alongside its FY25 annual results, will lead to significant restructuring charges and workforce reductions. HP estimates the total cost will be around $650 million, with nearly $250 million incurred in FY26. As part of this, the company plans to eliminate between 4,000 and 6,000 positions globally by the end of FY28