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Seagate Restructures to Further Reduce Operating Costs

btarunr

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#1
Seagate Technology 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.

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#2
Good idea when dealing with the recession.
 
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#3
Bad idea overall, the earnings of how many people will be disrupted and thus less expendable income will be available for purchases overall.


Good idea for short term, but since there are few drive makers left and Seagate is #1, what does this really mean for business?