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Seagate to cut 1,600 jobs in restructuring plan

Reuters

(Reuters) - Hard-disk drive maker Seagate Technology Plc said it was cutting about 1,600 jobs, or 3 percent of its workforce, as part of a restructuring plan to reduce costs.

Seagate said the plan, which it expects to complete by the end of the September quarter, is likely to result in total pre-tax charges of $62 million. (http://1.usa.gov/29qhXCe)

The charges will be accounted for mainly in Seagate's fourth-quarter results, the company said.

(Reporting by Anya George Tharakan in Bengaluru; Editing by Savio D'Souza)