Sunday March 06, 2005

Maxtor chops 5500 in Singapore

todayonline.com (archived) :

US-based disk drive-maker Maxtor Corp is cutting 5,500 jobs at its Singapore plants, or about 42 per cent of its total workforce worldwide, as it scales down its operations here. Half the cuts will be made through firings and the remainder through natural attrition, Maxtor said in a statement on Friday to the US Securities and Exchange Commission. According to its website, the company employs 13,000 worldwide. Maxtor has about 8,000 employees in Singapore.

The cuts are due to the company's plan to move some of its desktop drive manufacturing to China, as well as the closure of one of its two plants in Singapore, scheduled to be completed by the first quarter of next year.

... although industry observers are not surprised at the headcount reduction, they are concerned that more of Singapore's operations will eventually be shifted to its Suzhou-based plant in China, spurring further rounds of retrenchments.

See also :

1. Singapore braces for higher joblessness (sg_review)
2. Losing out at 40-plus (sg_review)

(2005-03-06 21:46:04 SGT) [Biz] Permalink

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