HP layoffs: IT giant to cut up to 6,000 jobs by 2028 amid shift to AI
California: HP Inc. announced on Tuesday that it plans to cut between 4,000 and 6,000 jobs globally by fiscal 2028, joining a growing number of tech companies that are accelerating their adoption of artificial intelligence (AI) tools.
The cost-cutting measures come as the company seeks to streamline its operations and integrate AI to speed up product development, enhance customer satisfaction, and boost productivity, according to a report by Reuters.
However, investors were less enthusiastic, as HP’s shares dropped 5.5 per cent in extended trading following the announcement.
HP CEO Enrique Lores confirmed that job cuts would affect teams involved in product development, internal operations, and customer support. "We expect this initiative will create $1 billion in gross run rate savings over three years," the news agency quoted Lores as saying.
This announcement follows HP's earlier move in February, when the company laid off an additional 1,000 to 2,000 employees as part of a previously announced restructuring plan.
Even as HP leans on AI to cut costs, it faces new financial challenges from rising component prices. Analysts at Morgan Stanley reportedly have warned that a global surge in memory chip prices, fuelled by AI infrastructure demand, could pressure profit margins for PC makers like HP, Dell, and Acer.
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Ahead of good Friday, SWR announces special train between Yesvantpur-Kannur via Mangaluru
Bengaluru: Ahead of the upcoming Good Friday festival weekend, the South Western Railway has announced a one-trip special train service between Yesvantpur Junction and Kannur via Mangaluru Junction.
According to an official released from the SWR, Train Number 06551 Yesvantpur–Kannur Express Special will depart Yesvantpur at 11.50 am on April 2 and is scheduled to arrive Kannur at 3.00 am on April 3.
In the return direction, Train Number 06552 Kannur–Yesvantpur Express Special will leave Kannur at 8.45 am on April 3 and reach Yesvantpur at 9.30 pm the same day.
The special train will halt at Kunigal, Channarayapatna, Hassan, Sakleshpura, Subrahmanya Road, Kabaka Puttur, Bantawala, Mangaluru Junction, Kasaragod, Kanhangad and Payyannur.
The train composition will have two AC two-tier coaches, six AC three-tier coaches, seven sleeper class coaches, four general second class coaches.
