Seagate cutting 6000 jobs with Maxtor deal

Computer hard-drive maker Seagate Technology said it planned to cut about 6,000 jobs as part of its just completed $1.9 billion acquisition of rival Maxtor Corp.

Seagate said the job cuts would come from Maxtor's workforce of about 12,000, meaning about 50 percent of that company's would not offered positions with new Seagate. The company said the job cuts, which will mostly impact workers in Europe and the United States, would be finished by the end of the year.

The deal gives Seagate, which makes disk drives for Microsoft Corp.'s Xbox 360 gaming console as well as for personal computers, a more than 40 percent share of the disk drive market. It previously had about a 30 percent share.

Post a Comment:

Comments are closed for this entry.

« Singapore Airlines... | Main | Fannie Mae to pay... »

Most popular blog postings on lowem.log :

1. Singapore MRT rail network length to double by 2020
2. 2010 Nissan Leaf electric car specifications : 107hp, 24KWh lithium-ion batteries, 100-mile range
3. Live spot gold price quotes chart on COMEX
4. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
5. AVG Anti-Virus Free Edition 2011 direct download link
6. Real-time live gold and silver price quotes chart on COMEX
7. Singapore electric vehicles : Government agencies EMA and LTA to study EV introduction
8. Book review : Shut Down by William Flynn

Featured articles on lowem.log :

1. Book review : Shut Down by William Flynn
2. Singapore electric cars testing starts with 9 electric vehicles
3. Honda, GS Yuasa JV to make lithium-ion batteries for 2010/2011 Honda Civic Hybrid
4. 2010 Honda Civic Hybrid preliminary specifications released
5. 2010 Honda CR-Z hybrid, 2010 Honda Fit/Jazz hybrid models confirmed
6. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
7. NYMEX crude oil recovers from $32.40 low after 2.2 mbpd OPEC production cut announced
8. Singapore : Nuclear power not ruled out