Seagate Cutting Over 1,000 Jobs Worldwide

After back to back quarters of declining sales, Seagate announced today that it is cutting over one thousand jobs. The company expects to save $113 million annually from the restructuring.

Hard-disk maker Seagate Technology Plc said it planned to cut 1,050 jobs, or 2 percent of its workforce, as part of a restructuring program. The company said on Thursday it expected to save about $113 million annually from the restructuring and incur pretax charges of about $53 million.

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