Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Seagate Technology -- Ignore unavailable to you. Want to Upgrade?

To: Teddy who wrote (5258)	7/16/1998 8:36:00 AM
From: Anthony Wong	Respond to of 7841

Seagate to continue improvements in tough times biz.yahoo.com

To: Teddy who wrote (5258)	7/16/1998 8:39:00 AM
From: Anthony Wong	Respond to of 7841

Seagate Says it Has No Plans to Fire More Workers in Singapore Bloomberg News July 16, 1998, 5:55 a.m. ET Seagate Says it Has No Plans to Fire More Workers in Singapore Singapore, July 16 (Bloomberg) -- Seagate Technology Inc., the world's largest maker of disk drives, said it had no plans to fire more workers in Singapore. The Scotts Valley, California-based company is the island- state's second-biggest private employer, accounting for about 2 percent of gross domestic product, analysts say. In January, it cut about 10,000 workers or 10 percent of its worldwide workforce as disk-drive prices plunged and demand for personal computers slowed. Among them were 1,800 workers in Singapore, where the company had about 18,000 employees. ''It's still very competitive out there,'' said William Watkins, executive vice president of Seagate's disk-drive operations. ''But I think we're pretty comfortable where we're at, especially in Singapore.'' In the past month, several major electronics companies such as Adaptec Inc. and Motorola Inc. have fired workers in Singapore as demand for their products weakened and Asia's currency and debt crisis hurt sales. Watkins said Seagate is counting on ''a lot more mileage on the cost-saving side'' to boost its gross profit margin, which was 18.9 percent in the fourth quarter ended July 3, after two quarters of losses. Gross profit margin is the percentage of revenue remaining after costs of production are subtracted. --Linus Chua and Claire Leow in the Singapore newsroom (65) 438-