Hard-disk drive maker Seagate Technology said it was cutting about 1,600 jobs, or 3% of its workforce, as part of a restructuring plan to reduce costs.
Seagate said the plan, which it expects to complete by the end of the September quarter, is likely to result in total pre-tax charges of $62 million.
The charges will be accounted for mainly in Seagate’s fourth-quarter results, the company said.