HP to slash up to 6,000 jobs by 2028 in massive AI transformation push [FOX Business Network]
Helmerich & Payne, Inc. (HP)
Last helmerich & payne, inc. earnings: 4/30 04:43 pm
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Source: FOX Business Network
The potential layoffs at the Palo Alto, California-based company could represent up to 10% of its workforce, according to Stock Analysis. Reuters reported that shares of the PC and printer maker fell 5.5% in extended trading following the news. The job cuts are part of a company-wide initiative to generate $1 billion in gross cost savings by the end of fiscal 2028, with $650 million in restructuring costs projected, $250 million of which is expected in fiscal 2026. CEO Enrique Lores emphasized the cuts are not merely about cost, but about transforming operations. "Our FY25 results reinforce the power of our portfolio and the strength of our team in a dynamic environment," he said in a statement. "As we accelerate innovation across AI-powered devices to drive productivity, security, and flexibility for our customers, our focus for FY26 is on disciplined execution." According to an earnings presentation, HP's strategy is to "drive customer satisfaction, product innovation, an
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HP
News
- Helmerich & Payne (NYSE:HP) was downgraded by analysts at <a style="font-weight:bold" href="https://weissratings.com/">Weiss Ratings</a> from a "hold (c-)" rating to a "sell (d+)" rating.MarketBeat
- Helmerich & Payne (NYSE:HP) had its "hold" rating reaffirmed by analysts at Cowen Inc.MarketBeat
- Helmerich & Payne (NYSE:HP) had its price target raised by analysts at TD Cowen from $27.00 to $33.00. They now have a "hold" rating on the stock.MarketBeat
- Helmerich & Payne (NYSE:HP) had its "underweight" rating reaffirmed by analysts at Morgan Stanley.MarketBeat
- Helmerich & Payne (NYSE:HP) had its "neutral" rating reaffirmed by analysts at Citigroup Inc..MarketBeat
HP
Earnings
- 11/17/25 - Miss
HP
Sec Filings
- 12/4/25 - Form 4
- 12/3/25 - Form 144
- 11/21/25 - Form 10-K
- HP's page on the SEC website