December 11, 2017 / 9:34 PM / 2 years ago

BRIEF-Seagate Technology - Intends To Reduce Global Headcount By About 500 Employees

Dec 11 (Reuters) - Seagate Technology Plc:

* SEAGATE TECHNOLOGY PLC - INTENDS TO REDUCE ITS GLOBAL HEADCOUNT BY APPROXIMATELY 500 EMPLOYEES

* SEAGATE TECHNOLOGY PLC - EXPECTS GLOBAL HEADCOUNT REDUCTION TO BE SUBSTANTIALLY COMPLETED BY END OF FISCAL YEAR 2018 - SEC FILING

* SEAGATE TECHNOLOGY PLC - EXPECTS GLOBAL HEADCOUNT REDUCTION TO RESULT IN TOTAL PRE-TAX CHARGES OF APPROXIMATELY $50 MILLION IN FISCAL YEAR 2018

* SEAGATE TECHNOLOGY - SAVINGS GENERATED FROM HEADCOUNT REDUCTION WILL REPRESENT ABOUT $65 MILLION IN SAVINGS ON AN ANNUAL RUN-RATE BASIS

* SEAGATE TECHNOLOGY PLC - SAVINGS GENERATED FROM HEADCOUNT REDUCTION EXPECTED TO BE RECOGNIZED BEGINNING IN MARCH 2018 QUARTER Source text: (bit.ly/2BBldLN) Further company coverage:

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