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4 months ago
BRIEF-Seagate Technology says intends to close design center in Korea
March 10, 2017 / 12:43 PM / 4 months ago

BRIEF-Seagate Technology says intends to close design center in Korea

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March 10 (Reuters) - Seagate Technology Plc:

* Seagate Technology Plc- intends to close design center in Korea, which will result in reduction of company’s headcount by approximately 300 employees

* Seagate Technology Plc- action is expected to result in total pre-tax charges of approximately $50 million

* Seagate Technology Plc - majority of the charges will be comprised of cash expenditures on severance and employee-related costs

* Seagate Technology Plc- balance of charges will include other cash expenditures on exit-related costs, as well as other non-cash charges Source text - bit.ly/2mqKDl4 Further company coverage:

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