December 2, 2010 |
Seagate Technology, the disk-drive maker that ended takeover talks with TPG Capital, also turned down a proposal from competitor Western Digital Corp., according to two people with knowledge of the matter. A combination with Western Digital would have faced antitrust obstacles and may have resulted in management departures, said the people, who declined to be identified because the talks were private. Western Digital indicated to Seagate it was willing to pay 10% to 50% more than TPG, one person said.
January 15, 2009 |
Seagate Technology is cutting 2,950 more jobs and slashing some employees' salaries as much as 25%, a surprise move coming just two days after Seagate changed chief executives and announced it was cutting 800 U.S. workers.
January 13, 2009 |
Seagate Technology has replaced its top two executives and said it planned to cut 800 jobs as the hard-drive maker endures a bruising slowdown in technology spending. In a surprise move, the Scotts Valley, Calif., company announced Monday that William Watkins, Seagate's chief executive since 2004, and Dave Wickersham, the president and chief operating officer, had both left the company, effective immediately. The company also announced that it planned to cut 10% of its 8,000 U.S.-based workers.
April 25, 2008 |
Western Digital Corp. said fiscal third-quarter profit more than doubled on surging sales of high-capacity drives for notebook computers. Net income for the quarter that ended March 28 climbed to $280 million, or $1.23 a share, from $121 million, or 53 cents, a year earlier, the Lake Forest-based company said. Sales rose 50% to $2.11 billion, beating analysts' estimates. Western Digital introduced notebook drives with capacities as large as 320 gigabytes in October, beating Seagate Technology, which plans to introduce similar products widely in June.
January 18, 2008 |
Hard-drive maker Seagate Technology's fiscal second-quarter earnings nearly tripled as shipments rose 20% year over year. Seagate Chief Executive Bill Watkins said that the company couldn't meet demand in every segment of its business during the quarter and predicted that the industry, which supplies storage components in computers, game consoles, digital video recorders and other devices, would continue to see robust demand. For the quarter ended Dec. 28, the world's largest drive maker earned $403 million, or 73 cents a share, up 188% from $140 million, or 23 cents, in a year earlier.
November 3, 2007 |
Seagate Technology has agreed to reimburse potentially millions of customers and pay as much as $1.79 million in plaintiffs' attorney fees to settle a lawsuit accusing the world's largest maker of hard drives of overstating the data storage capacity of those devices, court records show. The Scotts Valley, Calif.-based company will refund 5% of the purchase price to people who bought Seagate hard drives in the United States from March 22, 2001, to Dec.