Job cuts in Thailand are expected in February, Seagate said.
For the second quarter ended January 2, 1998, Seagate
recorded a net loss of US$183 million, or $0.75 per share,
including a restructuring charge of $205.5 million and otherspecial charges.
Revenues in the quarter fell 30 percent to $1.67 billion due
mainly to increased competition resulting in significant price
cuts and continuing weak demand for disk drives.
In Asia, the company manufactures disk drives in Singapore,Malaysia and China.
Earlier this mnth, Seagate announced it was cutting a total
of 10,000 jobs, or 10 percent of its global workforce, as part
of its restructuring to improve efficiencies.
In Singapore where Seagate makes its high-end disk drives,
some 1,800 jobs were cut.
Another 750 jobs went in Malaysia, where Seagate said it
would halt head stack and head gimmbal assembly operations in
its Penang and Ipoh facilities and reduce disk drive assembly
operations in Perai by mid February.
Copyright 1998, Reuters News Service |
