What happened
Announced 25 November 2025 with fourth-quarter results. HP put gross run-rate savings at about $1bn by the end of FY2028 against about $650m of restructuring charges. CEO Enrique Lores described AI deployment across product development, customer service and operations. CFO Karen Parkhill also cited memory-chip and trade-cost pressures, so AI was one stated driver among several.
Attribution and company response
Revenue held, staff cut. The published revenue comparison held or grew — $55.3bn in FY2025, up 3.2%. This clears the tracker’s revenue screen; it does not prove AI substitution, completed departures or the absence of financial pressure.
What the figures show
WHO BENEFITS?
Payments to shareholders are documented; gains for workers from this change are not established.
- Business performance
- $55.3bn in FY2025, up 3.2%
- Worker pay
- $77,679 median · 2025One year of pay data; no trend established.
- Workforce impact
- 4,000–6,000 · 7–10%NOV 2025 · Scope of the reported event, not net job losses.
- Where the money went
- $850m buybacks + $1.088bn cash dividendsFY2025 · Reported payout; no causal link to AI established.
Two-year history · 8 quarters
Aug 2024–Jul 2026 · USD millions · 6 of 6 measures cover every quarter. Checked 2026-09-22.
Each chart uses its own scale. Financial gains do not establish gains for workers or an effect caused by AI.
| Quarter ended | Revenue | Net profit / loss | Operating cash | Cash capital expenditure | Buybacks paid | Dividends paid |
|---|---|---|---|---|---|---|
| 14,055* | 906* | 1,623* | 153* | 900* | 263* | |
| 13,504 | 565 | 374 | 302 | 100 | 273 | |
| 13,220 | 406 | 38* | 183* | 100 | 273* | |
| 13,932 | 763 | 1,661* | 215* | 200 | 272* | |
| 14,639* | 795* | 1,624* | 197* | 500* | 270* | |
| 14,438 | 545 | 383 | 233 | 325 | 277 | |
| 14,408 | 450 | 926* | 170* | 100 | 274* | |
| 15,677 | 661 | 1,735* | 187* | 300 | 274* |
Consolidated company figures. Acquisitions, disposals, taxes and changes in reporting scope can affect comparisons. This series does not isolate AI effects.
* Calculated by subtracting reported periods: usually cumulative total minus the previous cumulative total, or full year minus nine months for Q4. Monday.com Q1 is half year minus Q2. Click a value for its source; click * for the subtracted period. Some calculations use different filings and may be affected by restatements. Fiscal dates differ between companies; compare the same season a year earlier.
Worker pay remains annual in the compensation table. Missing quarterly pay or headcount is not interpolated. This is financial-history coverage, not a complete assessment of who benefits.
Sources & limits
Revenue is not profit. These figures may cover different periods and do not isolate the effects of AI. Median pay includes more than salary and can change with workforce composition; it does not track raises for the same employees.
This is an announced multi-year plan, not completed cuts. The release does not show that any specific eliminated job was replaced by AI, and AI was not the sole stated cause — the CFO named cost pressures in the same breath.
HP reused its identified median employee from FY2024; the figures do not measure pay changes after the later AI programme.
Allocation evidence: Cash-flow statement amounts. The fiscal year predates the November 2025 announcement of the FY2028 workforce plan; not proceeds from that plan. Checked 22 September 2026. Allocation source ↗
Executive pay & historical figures
Annual stock awards can make CEO pay and its ratio swing sharply. No fairness rating is assigned to this ratio.
| Year | Median employee | CEO | Named executives, avg. | CEO / median |
|---|---|---|---|---|
| 2025 | $77,679 | $23.1m | $7.0m | 297:1 |
* Estimated from median compensation × reported ratio.
HP reused its identified median employee from FY2024; the figures do not measure pay changes after the later AI programme.
Sources and dates
- Company statement · HP Inc. investor relations · NOV 2025.
- Financial record: Source ↗