HP layoffs: Up to 6,000 jobs to be cut as higher memory costs and weak demand weigh on earnings

HP has announced it will reduce its global workforce by between 4,000 and 6,000 employees, a cut of up to 10 percent, as part of a long-term restructuring plan stretching to fiscal 2028. The job cuts come alongside weaker-than-expected guidance for the new fiscal year and rising costs driven by US trade regulations and soaring memory prices.

The company reported a 4 percent rise in quarterly revenue to $14.65 billion, with net income growing modestly to $795 million. But its outlook disappointed Wall Street. For fiscal 2026, HP expects adjusted earnings between Rs 2.90 and Rs 3.20 per share, below the market’s Rs 3.33 estimate. The pressure, HP said, comes partly from new trade rules that are increasing operating costs.

HP’s personal systems division, which includes its PC business, grew 8 percent year on year to $10.35 billion, beating expectations. But the printing segment dipped 4 percent to $4.3 billion as customers delayed upgrades in a competitive pricing environment.