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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Mangaluru: Teacher booked for allegedly beating student in school
Vittla (Dakshina Kannada): A case has been registered at the Vittla Police Station against a school teacher on charges of seriously assaulting a student with a cane at an English-medium school in Idkidu village here near Vittla in Dakshina Kannada district.
According to the complaint, the student, who attends the school regularly, had gone to school as usual. Around 2 pm, the child’s parents received a call from the school office stating that their child had allegedly disturbed other students. The school informed them that when the teacher scolded the student over the issue, the child became frightened and urinated, and the parents were asked to come and take the child home.
The parents reportedly told the school staff that no one was at home at the time and requested that the child be sent home in an autorickshaw.
After returning home, the student told the parents that a teacher identified as Istikaar had beaten him severely on the hand with a cane. The child also said that he urinated out of fear while the assault was taking place.
When the parents contacted the teacher over the phone to question him about the incident, he allegedly responded in a dismissive manner.
Following this, the parents lodged complaints with the Vittla Police Station and the Child Development Project Office, seeking justice and strict action against the teacher for allegedly assaulting the child without any valid reason.
Police have registered a case against the teacher and have taken up further investigation.
