Seagate will cut 6,500 staff despite uptick in hard disk demand
Seagate Technology will cut about 6,500 jobs worldwide, or 14 percent of its workforce, with most of the cuts in manufacturing jobs, it said Monday.
The data storage maker had said in June that it was aiming to cut 1,600 employees, or 3 percent of its global workforce, by the end of the September quarter to trim costs. But the more recent announcement suggests that the company feels the need to reduce costs further as its hard disk drives battle in a slowing PC market amid the emergence of flash storage in devices.
The new cuts will be in addition to those announced last month. The move by Seagate comes even as the company revised upwards its preliminary financial information for its fiscal fourth quarter and year-end 2016, which ended on July 1, citing better-than-expected demand for its hard disk drives.
To read this article in full or to leave a comment, please click here