Tuesday, January 13, 2009
Seagate Technology plans to lay off 10 percent of its U.S. workforce amid a shift in management. The cuts come in response to the economic recession and will impact a broad range of departments, including research and development.
The company has named Seagate chairman Stephen J. Luczo as president and chief executive, effective immediately. He will replace William D. Watkins whose future position at the company, if any, will be determined in about a week.
Luczo joined Seagate 15 years ago, and helped take the company private and then public again as its chief executive from 1998 to 2004. He will continue to serve as chairman.
"We are making measurable progress toward regaining our longstanding product leadership position across all markets," said Luczo in a press statement.
Seagate will announce details of its planned restructuring program later this month.
By: DocMemory
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