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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Seagate Technology Holdings PLC | NASDAQ:STX | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 2.35 | 2.69% | 89.85 | 89.10 | 91.00 | 90.97 | 88.00 | 88.07 | 1,932,560 | 21:16:33 |
From May 2019 to May 2024
Seagate Technology PLC said it is cutting about 6,500 jobs globally, or about 14% of its workforce, less than two weeks after it announced a reduction of 1,600 positions.
The company also increased revenue guidance for the fourth quarter ended July 1 to about $2.65 billion from about $2.3 billion, citing strong demand for its hard-disk drives.
Seagate shares jumped 8.8% in after-hours trading to $26.20.
The latest restructuring moves are part of Seagate's "continued consolidation of its global footprint across Asia, EMEA and the Americas," the company said.
The Cupertino, Calif., company is a top producer of drives that store data in personal computers, a market that has declined as PC sales dwindle. It has developed products in newer sectors such as cloud storage, and bought Dot Hill Systems Corp. in October for about $696 million to enhance its cloud offerings.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
July 11, 2016 17:05 ET (21:05 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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