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Seagate: Will lay off 10% of US work force
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Old 14th January 2009, 18:10   #1
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Default Seagate: Will lay off 10% of US work force

In an SEC filing today, Seagate announced it will be laying off 10% of its U.S. work force, or about 800. Seagate employs 54,000 people worldwide and about 8,000 of them work in the U.S. Seagate will disclose full details of the layoff in a follow-up SEC filing later this month.


In related news, Stephen J. Luczo, 51, Seagate's board chairman, will assume the roles of President and CEO as William D. Watkins, 55, determines what his future role will be with the company. Watkins will stay on to assist Luczo during the transition.


http://www.businessweek.com/ap/finan.../D95LQMSG0.htm
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Old 15th January 2009, 09:47   #2
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They haven't got a lot going right for them at the moment have they?

Glad I'm not a shareholder.....
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