A US financial analyst expects Seagate to announce the closure of one or two US plants by the end of May, predicting 800 to 1000 redundancies. The target at Seagate is to drive its quarterly operating expenses below $300m, according to Stifel Nikolaus analyst Aaron Rakers. This will be achieved, he thinks, by shutting down one …
Now who's gonna make 1TB paperweights?!?
So why is the cost reduction faster than overseas?
So why is it faster to save money by closing the U.S. plants? Or is this just an excuse to keep open fabs that don't have safety or environmental regulations.?
Still no word on the VP's to be gone by May 5.
Seagate catching up with WDC on product isn't the same as catching up on cost to manufacture. Don't look for much EPS any time soon.
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