(KRON) -- Hewlett Packard plans to cut thousands of jobs as part of a broader realignment toward the adoption of artificial intelligence. The company announced the layoffs in its most recent earnings report Tuesday.

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The initiative, which the personal computing giant has dubbed "fiscal 2026 plan," will see HP cut between 4,000 and 6,000 jobs. Implementing the initiative will cost the company around $650 million in labor and non-labor costs, but is projected to save around $1 billion by the end of fiscal 2028, HP said.

Hewlett Packard said the aim of the initiative is to "drive customer satisfaction, product innovation, and productivity through artificial intelligence adoption and enablement."

No specific timeframe was given for the lay

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