WDC 12.25, -0.25, -2.0%) said Wednesday it is laying off about 2,500 workers and is cutting its outlook for the fiscal second quarter. The tech storage company said it will reduce its worldwide headcount by approximately 5% of its total workforce. It also now expects revenue for the December quarter to be in the range of $1.7 billion to $1.8 billion, "with a consequent reduction in operating results." In late October, the company tipped revenue between $2.025 billion and $2.150 billion. It annouced other moves to save money, including a reduction in capital spending for the fiscal year 2009 to approximately $500 million from $750 million, and the closure of a facility in Thailand and another in Malaysia. "In the current macro economic climate, we expect demand weakness to last well into the middle of the 2009 calendar year," said President and Chief Executive Officer John Coyne.

http://www.marketwatch.com/news/stor...AFE9CCD0711%7D