In a statement filed with the SEC yesterday afternoon, it said it has "committed to an additional restructuring plan to reduce its cost structure". It will "reduce its global headcount by approximately 500 employees".
Announcing this a few weeks before Christmas, seriously?!? You couldn't wait a few weeks?
In October, Seagate's first-quarter 2018 revenues sank 7 per cent year-on-year to $2.6bn. At the time Mosley said: "Seagate is in a strong position to grow its businesses, improve profitability and to continue with its shareholder-return objectives."
Fixed that statement for you.