Seagate to axe 3000 jobs worldwide.
Quoted from PC Pro
Seagate says it will be axing around 3,000 jobs worldwide, a startling increase on the 800 originally announced.
The cuts were revealed in an SEC filing which stated: “The plan includes reducing worldwide headcount by approximately 2,950 people, representing approximately 6% of its global employee headcount, which is inclusive of the previously disclosed 10% reduction of the US workforce.”
Seagate also announced a major salary reduction program, effective in February for the CEO.
The CEO’s is currently paid “wait for it!” over a million bucks a year, so he has decided to take 25 percent cut (FFS!!!! people are losing their jobs here and the CEO is still getting $750,000 a year). I bet he feels so much better now.
Job losses: 3000
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