Seagate to axe 6,000 Maxtor workers
Published: 23 May 2006 14:45 BST
Thousands of Maxtor employees face redundancy following the company's takeover by storage giant Seagate.
Seagate announced on Monday that it had completed the $1.9bn (£1bn) takeover of Maxtor, following clearance from shareholders and regulators. The company also revealed that it planned to lose 50 percent of Maxtor's current workforce, which numbers 12,000.
The cuts will be made over the next six months, mostly in the US and Europe. Maxtor staff who will be retained are mostly based at its Asia-Pacific manufacturing operations.
Seagate claims the takeover of Maxtor will help it create better storage products.
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