Feeds

Jobs blow at Seagate

Ten per cent of workforce to go

  • alert
  • submit to reddit

The essential guide to IT transformation

In the wake of poor sales and a viscous HDD price war, Seagate has announced that ten per cent of its worldwide workforce is to about to bite the bullet. The 8000 or so jobs will be cut over the next nine months and the disk drive vendor hopes the action will save it around $150 million a year. The company will take a $200 million hit in its current quarter to cover the restructuring. Back in June, Seagate added it name to the increasing roll call of disk makers struggling to make ends meet. Last month, Seagate was accused by rival Quantum of cutting its prices to force competitors out of the market. Most of the jobs to be cut will come from factories in the Asia-Pacific region, although the US and Europe won't escape the axe. Seagate says it is building a smaller, more technically aware workforce for the future, buy then who isn't? This is not the first major round of lay-offs to hit the Seagate workforce. Last year, 10,000 jobs went to the wall. The company continues to blame an unexpected fall off in demand and general downward pressure on prices for its troubles. ®

Boost IT visibility and business value

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Banking apps: Handy, can grab all your money... and RIDDLED with coding flaws
Yep, that one place you'd hoped you wouldn't find 'em
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Primetime precrime? Minority Report TV series 'being developed'
I have to know. I have to find out what happened to my life
Netflix swallows yet another bitter pill, inks peering deal with TWC
Net neutrality crusader once again pays up for priority access
Judge nixes HP deal for director amnesty after $8.8bn Autonomy snafu
Lawyers will have to earn their keep the hard way, says court
prev story

Whitepapers

Best practices for enterprise data
Discussing how technology providers have innovated in order to solve new challenges, creating a new framework for enterprise data.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Advanced data protection for your virtualized environments
Find a natural fit for optimizing protection for the often resource-constrained data protection process found in virtual environments.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?