Yesterday Seagate was accused of violating export regulations. Today the corporation announced that it will have to lay off 8% of all workers.
Massive job cuts at Seagate; Image: Bloomberg
Seagate is also affected when it comes to the decline in demand for PC parts. The storage manufacturer now has to cut costs in the form of massive job cuts. 8% or 3,000 employees must be laid off worldwide.
Seagate is equally affected as Intel, NVIDIA and AMD. The company reported figures that missed Wall Street's expectations. The stock price fell. However, Seagate will still pay dividends to investors.
