Dwindling demand for physical hard drives has already led Seagate to eliminate the jobs of 1,600 employees from its global workforce of 46,000 which spans across Asia, Europe, the Middle East and the Americas. Now, the company has announced that it is planning to cut another 6,500 jobs or 14 percent of its remaining staff. The employees who have lost their jobs will be let go over the next 12 months and Seagate will end up paying out $164 million as a result. The company blames a slowing desktop PC market for declining sales of its hard drives. Flash-based storage,… [Continue Reading]
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