The econalypse has been particularly unkind to Seagate Technology. The hard-drive manufacturer posted a fiscal fourth-quarter loss Tuesday, its third in a row. Weighed down by restructuring charges, Seagate reported a loss of $81 million, or 16 cents a share, compared to net income in the same quarter last year of $160 million, or 32 cents a share.
Seagate is defragging its workforce again. The hard drive manufacturer said Wednesday that it plans to sack another 1,100 employees–2.5 percent of its workforce. These in addition to the nearly 3,000 workers it laid off earlier this year.
With IBM quietly contributing another 2,800 or so employees to the next Bureau of Labor Statistics Unemployment report, this seems like a fine time to pay respects to those who’ve gone before them. And there are many. In the past six months, thousands of workers have been right-sized and offboarded. Rebalanced and rationalized. “Smartsized.” Sacked. A quick scan of the carnage.
“Terrible.” That was Seagate CEO Bill Watkins’s (at right, doing his Dr. Octopus impression) one-word description of the disk drive maker’s December sales last week–and apparently one of his final public comments as Chief Executive as well. This morning Seagate said that Watkins is handing the CEO reins over to Chairman Stephen Luczo and that the two will confer over the next week to “determine what role, if any, Mr. Watkins will have at the company going forward.”
The International Consumer Electronics Show will kick off next week shrouded in a nimbus of recessionary gloom. Show attendance is expected to be down eight percent this year, according to Gary Shapiro, CEO of the Consumer Electronics Association, who expects 130,000 attendees to flood the convention this year–11,000 fewer than last year.
If a global manufacturer of computer hardware like Belkin’s not exhibiting at CES, who is? I posed that question jokingly earlier this morning, but turns out there’s a very real and ugly answer to it: Not Seagate. Not Logitech. Not Cisco. Not Philips. Not Yahoo. And not Sanyo, either.
Hard-drive maker Seagate Technology has finally settled on a strategy for competing with its solid-state drive rivals. It will enter the SSD market this year. And to prepare the market for its arrival, it’s suing an SSD pioneer for patent infringement.
Yesterday, Seagate (STX) filed a lawsuit in federal court accusing STEC Inc. (STEC), an early [...]
U.S. officials fretting over the potential national-security risks that might accompany the foreign acquisition of disk-drive maker Seagate Technology can rest easy. The company’s not for sale.
Three days after the New York Times reported that an unnamed Chinese technology company was intent on acquiring Seagate, the hard-drive maker said that wasn’t really the case. “Seagate [...]
John Paczkowski has been poking fun at the tech industry and the personalities that drive it since 1997. From 1999 to 2007, he wrote the award-winning tech news Web log Good Morning Silicon Valley for the San Jose Mercury News, Silicon Valley's daily newspaper.
Here is a statement of my ethics and coverage policies. It is more than most of you want to know, but, in the age of suspicion of the media, I am laying it all out.
Best video mashup ever.
A Facebook Memorial
Wow.
Worth it for the Rickrolling photo alone.
Excellent.
Flughumor!
… you vacuous, toffee-nosed, malodorous perverts
Stephen Fry and zoologist Mark Carwardine meet the kakapo — a fat, flightless and very randy rare parrot.
Spectacular in the bellowing Russian sailor sense of the word …
“If you spell something wrong on your insurance claim, do you really deserve surgery? I don’t think so …”
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