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Seagate cuts 3 percent of its workforce

Posted on Thursday, June 30 2016 @ 13:27:41 CEST by

HDD maker Seagate announced it's cutting 1600 jobs, about 3 percent of its global workforce of 52,000 employees. The job cuts are expected to be completed by the end of this year's September quarter and should result in cost savigns of about $100 million per year.

It's the second round of restructuring in less than a year, in September 2015 the storage firm announced it would cut over 1,000 jobs. The weak PC market and the shift towards solid state storage are to blame for Seagate's woes.

Via: Bloomberg



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