Seagate to Cut More Than 1,000 Jobs
10 Settembre 2015 - 2:00PM
Dow Jones News
Seagate Technology PLC said Thursday that it would cut 2% of its
global workforce, citing weak demand.
The Dublin-based data storage firm, which in July cut guidance
for the current quarter and most recently reported a 26% decline in
quarterly profit, said it would eliminate about 1,050 jobs.
Seagate said the reduction is part of a plan "intended to
realign its cost structure with the current macroeconomic business
environment."
The cost restructuring plan is expected to be largely completed
by year-end, the company said, and is expected to result in pretax
charges of about $53 million. Most of those charges will be booked
in the quarter ending Sept. 30.
Seagate expects to realize about $113 million in annual savings
from the plan.
Write to Lisa Beilfuss at lisa.beilfuss@wsj.com
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(END) Dow Jones Newswires
September 10, 2015 07:45 ET (11:45 GMT)
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