The rough times are continuing for hard-drive companies.
Following in the footsteps of rival Seagate Technology, Maxtor on Thursday announced job cuts amid worse-than-expected industry conditions. Maxtor said it would eliminate 400 to 500 positions and predicted a net loss for the second quarter, ended June 26, of between $20 million and $30 million. The company, based in Milpitas, Calif., has about 13,500 employees worldwide, according to its Web site.
This isn’t good. -KF
Source: CNet
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