Seagate misses Q1 estimates with $2.04B revenue and plans to cut around 3,000 jobs to reduce costs amid slowing demand; stock drops 9%+ and is down ~50% YTD (Ian King/Bloomberg)
Ian King / Bloomberg:
Seagate misses Q1 estimates with $2.04B revenue and plans to cut around 3,000 jobs to reduce costs amid slowing demand; stock drops 9%+ and is down ~50% YTD — Seagate Technology Holdings Plc, the biggest maker of computer hard drives, said it’s cutting about 3,000 jobs in a restructuring plan aimed …