Seagate to Acquire Maxtor, Maxtor Cuts 900 Jobs
Maxtor has announced that they are cutting 900 jobs in Singapore in preparation of Seagate's acquisition. Maxtor has been in financial trouble for a while, with expected net losses of $104 million this fiscal year. Once the merger is complete in May, Seagate will become the world's largest hard disk manufacturer. Read the full story here.
LOS ANGELES (Reuters) - Maxtor Corp (MXO.N: Quote, Profile, Research), the computer disk drive maker being acquired by competitor Seagate Technology (STX.N: Quote, Profile, Research), on Tuesday said it will cut about 900 jobs in Singapore, and cut its outlook due to the pending acquisition.
