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US Tech Giant Hewlett Packard Plans Up to 6,000 Job Cuts

The logo for The Hewlett-Packard Company is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, US, June 27, 2018. REUTERS/Brendan McDermid/File Photo
The logo for The Hewlett-Packard Company is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, US, June 27, 2018. REUTERS/Brendan McDermid/File Photo
    Asharq A-Awsat
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US Tech Giant Hewlett Packard Plans Up to 6,000 Job Cuts

The logo for The Hewlett-Packard Company is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, US, June 27, 2018. REUTERS/Brendan McDermid/File Photo
The logo for The Hewlett-Packard Company is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, US, June 27, 2018. REUTERS/Brendan McDermid/File Photo

PC-maker Hewlett Packard on Tuesday said it would layoff as many as 6,000 employees over the next three years as the slumping world economy continues to embroil the US tech sector.

HP, which has a payroll of about 61,000 people, said it aimed to secure $1.4 billion in annual savings through 2025 as it followed the cost-cutting path of other tech giants such as Facebook-owner Meta, Amazon and Twitter.

The plan "will enable us to better serve our customers and drive long-term value creation by reducing our costs and reinvesting in key growth initiatives to position our business for the future," HP CEO Enrique Lores said in a statement.

Meta said earlier this month it will lay off more than 11,000 of its staff and Twitter saw half of its 7,500-strong employees culled just days after the company was taken over by billionaire Elon Musk in late October.

"These are the toughest decisions we have to make, because they impact colleagues we care deeply about. We are committed to treating people with care and respect..." an HP spokesperson said in an email to AFP.

HP, which makes computer hardware and printers, announced the layoff plan as it announced an 11.2 percent fall in revenues to $14.8 billion for the final fiscal quarter of 2022.

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PIF, Google Cloud Partner to Establish AI Hub in Saudi Arabia

The partnership will emphasize joint research on Arabic language models and Saudi-specific AI applications. - SPA
The partnership will emphasize joint research on Arabic language models and Saudi-specific AI applications. - SPA
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PIF, Google Cloud Partner to Establish AI Hub in Saudi Arabia

The partnership will emphasize joint research on Arabic language models and Saudi-specific AI applications. - SPA
The partnership will emphasize joint research on Arabic language models and Saudi-specific AI applications. - SPA

PIF and Google Cloud announced on Wednesday a strategic partnership to establish a global artificial intelligence (AI) hub near Dammam, in Saudi Arabia's Eastern Region.
According to a press release issued by the PIF, the landmark partnership, signed at the 8th edition of the Future Investment Initiative (FII8), further positions Saudi Arabia as a global AI hub and a top destination for enterprises and startups. This collaboration aims to enhance the Saudi workforce by offering AI programs to millions of students and professionals, supporting the national objective of growing the information and communication technology (ICT) sector by 50%.
Under this partnership, customers will be able to leverage Google Cloud’s technology to drive growth across industries and expand the capacity for AI application delivery. Businesses and their consumers can anticipate improved AI application quality and data services, delivered locally and with greater efficiency, SPA reported.
Subject to regulatory approvals, the partnership will emphasize joint research on Arabic language models and Saudi-specific AI applications. Enabled by Google Cloud’s substantial investment and expertise in custom silicon, this high-performance infrastructure will feature the latest tensor processing unit (TPU) and graphics processing unit (GPU) accelerators, along with the Vertex AI platform—Google Cloud’s specialized development environment for building generative AI applications.
The release added atht this collaboration underscores Saudi Arabia’s attractiveness for major tech initiatives. Investors are drawn to the nation’s strategic location at the crossroads of three continents, its advanced infrastructure, its access to fast-growing Middle Eastern markets, and the potential for reliable and affordable renewable energy to support the AI hub.
Governor of PIF Yasir Al-Rumayyan said, “We are delighted to welcome this new Google Cloud AI hub to Saudi Arabia. This partnership demonstrates PIF’s dedication to fostering an AI-friendly environment through investments in human capital and technology, upskilling thousands with cutting-edge tools to support our sustainable and innovative infrastructure goals. Saudi Arabia is a prime location for global tech partners, as PIF brings both sector expertise and a long-term approach to investment.”
Meanwhile, President and Chief Investment Officer of Alphabet and Google Ruth Porat added, “This strategic partnership will accelerate the adoption of AI in the local language and across industries—including healthcare, retail, financial services, and more—for enterprises and startups in Saudi Arabia, across the Middle East, Africa, and worldwide. As part of Saudi Arabia’s vibrant technology ecosystem, we aim to create highly skilled jobs for Saudis and provide opportunities for global businesses to drive growth through cloud adoption.”
Technology is one of PIF’s priority investment sectors, enabling critical areas of the economy, including entertainment, financial services, healthcare, transportation, logistics, utilities, and renewables. PIF’s telecom, communications, and technology investments include the Saudi Information Technology Company (SITE), which delivers digital and cyber services through national talent, and iot squared, a company specializing in the Internet of Things.
To advance Arabic-language models, PIF and Google Cloud will explore enhancing the Arabic-language capabilities of Gemini, Google’s generative AI model family, by integrating additional Arabic datasets with Google Cloud’s technology. This will provide local businesses, researchers, and developers the opportunity to incorporate these models into their systems, enabling sophisticated Arabic-language AI agents and applications.
Preliminary research commissioned by Google Cloud and conducted by tech policy advisory firm Access Partnership estimates the new AI hub could contribute a cumulative $71 billion to Saudi Arabia’s GDP over eight years. Increased economic activity from AI adoption is expected to support the creation of thousands of highly skilled direct and indirect jobs.
These investments expand on Google Cloud’s existing presence in Saudi Arabia, which includes the Dammam cloud region, launched last year as part of Google Cloud’s global network of 40 regions.