Quantum Corp., a Milpitas, Calif., maker of computer data-storage devices, will reduce its work force by 1,100, or 37%, as new Chief Executive Richard Belluzzo seeks to pare costs and return to profitability by March.
About 80% of the workers cut will be hired by Jabil Circuit Inc., which is assuming some Quantum manufacturing. The job cuts and other costs to restructure will trim earnings by $100 million in the second and third quarters, Quantum said.
