Hard disk drive manufacturer Seagate will not layoff 1,600 but 6,500 of its employees, about 14% of its entire workforce. The American technology company hopes to bring down its costs this way, which is needed due to lower demand of its products.
The company suffers from a lower demand for PCs of which sales are decreasing for some time already. Another negative for the company is that more and more devices use SSD disks instead of traditional HDDs.
Seagate hopes to end its restructuring by the end of 2017, the new announcement follows an earlier report that said the company would lay off 1,600 employees in the hope of saving $100 million annually.
