A household name in tech is the latest to announce a wave of layoffs.

On Tuesday, Hewlett-Packard — the 86-year-old California tech giant better known as HP — said it plans to let go of between 4,000 and 6,000 employees worldwide.

That is roughly 10 percent of its workforce, with notices rolling out through 2028.

It’s the latest example of a legacy company embracing automation as AI supercomputers start reshaping the job market.

HP, valued at more than $53 billion, is baked into Americans’ daily routines, thanks to its popular laptops, printers, and ink cartridges. 

At its peak, the company employed more than 350,000 people.

But 2025 has been choppy. Investors are bullish on its chip-making ambitions but far less enthused about its aging consumer hardware.

The result is a stock chart with whiplash. Shares are down nearly 15 percent since January, but still up almost 83 percent since May.

HP said it expects to slash between 4,000 and 6,000 employees from its staff by 2028

HP said it expects to slash between 4,000 and 6,000 employees from its staff by 2028

HP says the layoffs will save $1 billion over three years and will hit internal operations, product development, and customer service teams the hardest.

During Tuesday’s earnings call, CEO Enrique Lores argued that slimming down the workforce will make the company more competitive. 

‘As we look ahead, we see a significant opportunity to embed AI into HP to accelerate product innovation, improve customer satisfaction, and boost productivity,’ he said on the call. 

The announcement landed on the same night HP cleared Wall Street’s expectations, pulling in $14.6 billion in revenue instead of the $14.5 billion analysts predicted.

Personal computer sales jumped 8 percent, while printers slipped 4 percent.

Investors reacted in real time, sending HP’s stock down 6 percent after Tuesday’s closing bell. It bounced back more than 2 percent into the green on Wednesday morning, but was back down over 1 percent by the afternoon. 

The combination of billion-dollar beats and mass layoffs mirrors a tech sector trend in 2025 — executives are touting AI as both the engine of new profits and the rationale for cutting thousands of jobs.

Amazon has been the most vocal, with its head of HR directly pointing her finger at AI as the company slashed 14,000 positions directly after a banner quarter. 

HP has had a wild ride in 2025 - investors have praised the company's high-powered computer tech amid a boost in AI and data center spending. But the company's consumer products, like computers and printers, have ceded popularity to competitors like Apple

HP has had a wild ride in 2025 – investors have praised the company’s high-powered computer tech amid a boost in AI and data center spending. But the company’s consumer products, like computers and printers, have ceded popularity to competitors like Apple

CEO Enrique Lores said he sees 'significant opportunity to embed AI into HP'

CEO Enrique Lores said he sees ‘significant opportunity to embed AI into HP’ 

The 86-year-old company recently moved part of its operations to Texas, including a new campus just north of Houston

The 86-year-old company recently moved part of its operations to Texas, including a new campus just north of Houston

‘Some may ask why we’re reducing roles when the company is performing well,’ Beth Galetti, an HR lead at Amazon, wrote in a public note.

‘What we need to remember is that the world is changing quickly. This generation of AI is the most transformative technology we’ve seen since the internet, and it’s enabling companies to innovate much faster than ever before.’

The tech giant is not alone.  

Apple cut workers on Monday, UPS has cut 34,000 this year, Target slashed 1,800 corporate workers from its headcount in October, and Starbucks axed 900 in late September. 

Other behemoths, like Microsoft, Intel, Verizon, AT&T, General Motors, and Dell, have also slashed staff amid plans to roll out more AI technology.

HP didn’t immediately respond to the Daily Mail’s request for comment.Â