Seagate Layoffs Job Cut: may fire 5400 employees: Finance Trading Times

Seagate Layoffs Job Cut: may fire 5400 employees

The technology sector is feeling the heat across the globe. As a measure, they are going for layoffs. The latest one to add to the list is, Seagate, which is the world leader in hard drives and hard disks segment. It has decided to fire around 10% of its employees. Seagate  Layoffs

How many employees will be fired in the Seagate layoffs?
The enws is that around 10% of the seagate employees may face the layoffs. That would mean a loss of upto 5400 jobs in Seagate.

Will there be any plants closed by Seagate?
Yes. If a restructuring plan is to be followed by Seagate, then it will mean the closure of plants to reduce product capacity and even reduction in research and development spending.

What are the primary reasons of Seagate layoffs?
Declining sales, bad Christmas sales record, worsening market situations and so on.

Any other news about Seagate
Some experts are of the opinion that there should be some consolidation in the Hard Disk business. The HDD industry could consolidate to Seagate, Western Digital and Hitachi, with one other Japanese player formed from some combination of Fujitsu's HDD business, which it has been trying to sell to Western Digital, Toshiba and TDK.
Let's hope that alternative jobs are available to the affected employees of Seagate Layoffs Job Cut
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