Seagate expands job cuts to 6,500

Seagate, a maker of computer storage drives, expanded plans to cut jobs to 14 percent of its workforce, seeking to reduce costs to weather an extended demand slump.

According to the company, roughly 6,500 positions will be eliminated by the end of fiscal 2017. The moves will result in pretax charges of about $164 million next year.

Source: Bloomberg

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s