Storage Informer
Storage Informer

Seagate Restructures To Further Reduce Operating Costs

by on May.13, 2009, under Storage

Seagate Restructures To Further Reduce Operating Costs

SCOTTS VALLEY, Calif. – May 13, 2009 – Seagate Technology (NASDAQ: STX) today announced it has initiated a restructuring plan that includes a reduction of approximately 1,100 employees or 2.5% of the company°¶s global workforce. This reduction is required to support a targeted run rate of product development and marketing and administrative costs of less than $300 million per quarter and to position the company to be cash flow and earnings positive within its fiscal year 2010.

Read the full press release

URL: http://media.seagate.com/2009/05/seagatetechnology/seagate-restructures-to-further-reduce-operating-costs/

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