Posted on Wednesday, December 17 2008 @ 18:32 CET by Thomas De Maesschalck
Market Watch
reports HDD maker Western Digital is firing 2,500 workers, approx. 5 percent of its total workforce, to cut costs. The firm also cut its outlook for its fiscal second quarter, stating they expect demand will remain weak until well into the middle of 2009.
It also now expects revenue for the December quarter to be in the range of $1.7 billion to $1.8 billion, "with a consequent reduction in operating results." In late October, the company tipped revenue between $2.025 billion and $2.150 billion. It announced other moves to save money, including a reduction in capital spending for the fiscal year 2009 to approximately $500 million from $750 million, and the closure of a facility in Thailand and another in Malaysia.
