Seagate to lay off 10%
Seagate’s December sales were much worse than feared and the company is expected to respond to revenues falling off a cliff by sending up to ten per cent of its staff after them.
A restructuring could involve the closure of plants to reduce product capacity, reduction in research and development spending, and the loss of up to 5,400 jobs. It is expected to be announced later this month.
Source: The Register
Update (1-12-2009): Seagate will lay off 10 percent of its U.S. work force, or about 800 people, according to Business Week
4th Feb mark the retrenchment of employee in Singapore.