Friday, May 15, 2009

Seagate to Cut 1100 Jobs

Seagate Technology hopes to save $125mn annually by laying-off over 1000 employees. The popular hard drive manufacturer hopes the move will make them earnings positive by next year. The layoffs should be completed by July of this year. Since the beginning of the fiscal year, Seagate has laid-off more than 1/4 of its workforce.

© C Harris Lynn, 2009

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