June 4th, 2004, 14:21 PM
Seagate To Eliminate 2,900 Jobs
LLC will reduce its work force by 7 percent, or about 2,900 jobs, as the maker of computer hard drives struggles to cut costs as prices fall in the competitive industry.
The company, which is incorporated in the Cayman Islands but has headquarters in Scotts Valley, did not specify what locations or divisions would be affected by the job cuts, though it said it will not affect the introduction of new products expected in the next few weeks.
Full Story: KFMB.com