Industry & Business

Seagate announces 70 job cuts

Seagate announces 70 job cuts

June 01
15:47 2016

imagesSeagate has announced that it will lay off 70 workers in its Springtown facility in Derry.

The US company, which makes hard drives and develops other top-of-the-range products, said it is being forced to cut its workforce in the North.

“It is not easy to make decisions that affect people’s lives in this way, but we believe this is the best way forward for the company right now,” the firm said in a statement.

The redundancies will be both voluntary and compulsory, the company said, and will reduce the 1,400 strong workforce by about 5%.

The firm said: “As indicated in recent public statements related to our latest earnings announcement, Seagate is undertaking a number of actions to better position the company for success and growth and to respond to new demand levels within the industry.

“These new levels are a result of a very dynamic and disrupted storage industry, driven by accelerating usage shifts of technologies and architectures by end users, and underpinned by a weak macro-economic environment.

“Unfortunately the required actions include some reduction in the company’s workforce.”

Since its opening in 1193 Seagate has been Derry’s biggest employer.

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