STX

Hard Disk Error: Earnings Failure Detected

John Paczkowski in News on July 22, 2009 at 6:55 am PT

The econalypse has been particularly unkind to Seagate Technology. The hard-drive manufacturer posted a fiscal fourth-quarter loss Tuesday, its third in a row. Weighed down by restructuring charges, Seagate reported a loss of $81 million, or 16 cents a share, compared to net income in the same quarter last year of $160 million, or 32 cents a share.

Latest Seagate Layoffs Offer Improved Capacity, Performance

John Paczkowski in News on May 13, 2009 at 8:18 am PT

Seagate is defragging its workforce again. The hard drive manufacturer said Wednesday that it plans to sack another 1,100 employees–2.5 percent of its workforce. These in addition to the nearly 3,000 workers it laid off earlier this year.