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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Mohsin's fifer helps LSG restrict KKR to 155/7 despite Rinku's 83
Lucknow (PTI): Lucknow Super Giants pacer Mohsin Khan added another sordid chapter to Kolkata Knight Riders' batting woes, taking five wickets to restrict the three-time champions to a modest 155 for seven in their IPL match here on Sunday.
Mohsin’s 5 for 23, a personal best for the left-arm pacer in this format, tore apart an already struggling KKR batting unit, as he snaffled the cream wickets of Ajinkya Rahane, Tim Seifert, Cameron Green, Rovman Powell and Anukul Roy.
Rinku Singh (83 not out, 51 balls) made a well-paced fifty and punished Mohammed Shami in the 19th over for 6, 4, 4 and the smoked four sixes in a row against spinner Digvesh Rathi as KKR made 43 runs in the last two overs to go past the 150-run mark.
But his fifty remained a lone act, as Mohsin firmly stood in the limelight.
His bowling ethos were rooted in simple tactics — bang the ball into the black soil pitch to gain bounce or use cutters at various pace to keep the batters guessing.
Mohsin, who started the night with a wicket maiden, showed his variety across two dismissals.
He followed Rahane with a fuller ball as the batter tried to go over the covers, but the ball’s trajectory forced the KKR skipper to just slice the ball up for a simple catch for Aiden Markram.
The 27-year-old stayed calm when Green, who looked comfortable out there while smashing George Linde for two successive sixes, slammed him for a huge maximum.
Two balls later, Mohsin dug one short, challenging Green (34) to go for the pull and the Australian all-rounder took the bait.
The into-the-body angle worked again as Green could only sky the ball to wicketkeeper Rishabh Pant.
Green’s ouster also ended a fifth wicket alliance worth 42 with Rinku Singh.
Bizarre dismissal of Raghuvanshi
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If the existing turmoil was not enough, KKR had to bear the dejection of seeing Angkrish Raghuvanshi getting dismissed obstructing the field.
On the final ball of the fifth over from Prince Yadav, Raghuvanshi nudged one towards mid-on and set off for a single, only to be rejected by Green.
Raghuvanshi put in a dive to save himself but he came in the line of the throw from Shami.
Subsequently, third umpire Rohit Pandit accepted LSG’s appeal and decided that the batter’s turning radius was more than required, eventually resulting in the batter’s dismissal in a rare manner.
