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|7th April 2006, 10:30||#1|
Join Date: May 2002
Maxtor Cuts Jobs and Prepares for Seagate Takeover
Despite growth in the storage industry, jobs and locations will always be expendable -- this is just the nature of business. Maxtor announced that it will be cutting roughly 900 jobs in its Singapore location. The company blames the job cuts on net losses amounting up to $104 million over the last fiscal year.
Maxtor also mentions that the job cuts are also to prepare for the completion of Seagate's acquisition, which is already taking place.