HP Inc. on Tuesday announced plans to reduce its global workforce by 4,000 to 6,000 jobs by fiscal 2028 as part of an effort to streamline operations and leverage artificial intelligence to accelerate product development, enhance customer satisfaction, and improve productivity.

CEO Enrique Lores said the job reductions will primarily affect teams involved in product development, internal operations, and customer support.

“We expect this initiative will create $1 billion in gross run rate savings over three years,” Lores added during a media briefing call.