Up to 6,000 jobs are to go at HP worldwide in the next three years as the US computer and printer maker increasingly adopts AI to speed up product development.

Announcing a lower-than-expected profit outlook for the coming year, HP said it would cut between 4,000 and 6,000 jobs by the end of October 2028. It has about 56,000 employees. The news drove its shares lower by 6%.

“As we look ahead, we see a significant opportunity to embed AI into HP to accelerate product innovation, improve customer satisfaction and boost productivity,” said the California company’s chief executive, Enrique Lores.

He said teams working on product development, internal operations and customer support would be affected by the job cuts. He added that this would lead to $1bn (£749m) annualised savings by 2028,

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