Nov 25 (Reuters) - HP Inc ( HPQ ) said on Tuesday it

expects to cut between 4,000 and 6,000 jobs globally by fiscal

2028 as part of a plan to streamline operations and adopt

artificial intelligence to speed up product development, improve

customer satisfaction and boost productivity.

HP's teams focused on product development, internal

operations and customer support will be impacted by the job

cuts, CEO Enrique Lores said during a media briefing call.

"We expect this initiative will create $1 billion in gross

run rate savings over three years," Lores added.

The company laid off an additional 1,000 to 2,000 employees

in February, as part of a previously announced restructuring

plan.

Demand for AI-enabled PCs has continued to ramp externally,

reaching over 30% of HP's shipments in the fourth quarter ended

October 31.

A global memory chip price surge brought on by rising demand

from data centers could push up costs and pressure profits at

consumer electronics makers such as HP, Dell and Acer

, Morgan Stanley analysts have warned.

Big Tech's push to build out AI infrastructure has triggered

price increases for dynamic random access memory and NAND - two

commonly used types of memory chips - amid high competition in

the server market.

Lores said that HP expects to feel the impact in the second

half of fiscal 2026, with higher price increases. HP has enough

inventory in hand for the first half.

"We are taking a prudent approach to our guide for the

second half, while at the same time implementing aggressive

actions like qualifying lower cost suppliers, reducing memory

configurations and taking price actions," Lores said.

The company expects fiscal 2026 adjusted profit per share

between $2.90 to $3.20, below analysts' average estimate of

$3.33, according to data compiled by LSEG.

HP expects adjusted first-quarter profit per share between

73 cents and 81 cents, with the midpoint coming below estimates

of 79 cents apiece.

Revenue for the fourth quarter was $14.64 billion, beating

estimates of $14.48 billion.