Wednesday, August 5, 2009

Seagate Technologies shutdown factory in Singapore

Seagate Technologies
Seagate Technologies (STX) will lay off 2,000 workers and shutdown factory in Singapore,
It is more than 4 percent of its global workforce.

Ang Mo Kio hard drive factory would be closed by the end of 2010 and move the operation at Ang Mo Kio (in Singapore) to other Seagate sites in other country e.g. Malaysia, China and Thailand.

The company expects decrease invest it will help them generate annual savings of $40 million when the closure is completed.

Reference : PC Mag
Stock Quotes : Seagate Technology (STX)


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