Seagate Technology Inc

Seagate Technology Inc. said Thursday that it filed a countersuit against International Business Machines Corp., claiming that IBM has engaged in unfair business practices by ddnattempting to block current and former employees from working for competitors. The suit, which seeks damages and an injunction against IBM, was filed in U.S. District Court in St. Paul, Minn.

Silver Lake Partners, Texas Pacific Group and other buyout firms that are the largest shareholders of Seagate Technology Inc. cut their stake in the company Thursday by 13.7%, selling $1.12 billion worth of shares. The firms sold as many as 60 million shares in Seagate at $18.75 each. The stock closed Thursday at $18.93, down 57 cents, in New York Stock Exchange trading. The group invested $1.1 billion in Seagate -- which is based in the Cayman Islands and run from Scotts Valley, Calif.

Seagate Technology Inc. of Scotts Valley, Calif., said it plans to build a $21.5-million advanced recording head manufacturing plant, its fourth in Malaysia.

Seagate Technology Inc., the world's largest computer hard-drive maker, reported Tuesday that its fiscal first-quarter earnings topped Wall Street analysts' expectations, but warned that parts shortages could hamper growth in the months ahead. The Scotts Valley, Calif.-based company, which is being taken private, reported a profit of $62 million, or 26 cents a share, for the quarter ended Sept. 29, compared with 7 cents a share a year ago. Sales rose 4%, to $1.75 billion.

Seagate Technology Inc. said it will cut 8,000 jobs, or 10% of its workers, to streamline its business in the face of falling prices. The computer disk drive maker said it will take a $200-million pretax charge this quarter for the cuts, which will be made through firings, voluntary severance and retirement at plants in Asia, Scotland and the U.S. during the next nine months. Shares of Scotts Valley, Calif.-based Seagate fell $1.06 to close at $31.94 on the New York Stock Exchange.

Seagate Technology to Buy Frye Computer: The Scotts Valley, Calif.-based maker of computer disk drives said it will take a fourth-quarter charge of about $8 million to $9 million on the transaction. Terms were not disclosed, but the purchase price wasn't more than $20 million, a Seagate Technology Inc. spokesman said. The acquisition is part of Seagate's strategy to provide software to manage data stored in computer networks. Closely held Frye Computer Systems Inc.

Driven by increasing demand for computer memory products, Seagate Technology Inc. said Monday that it will make a major investment in robotic manufacturing equipment at its Anaheim plant. A spokesman for the Scotts Valley, Calif., company declined to say how much the company would invest in the 274-employee plant. Up to 25 new jobs could be added over the next three years as a result of the new investment, the spokesman said.

Silver Lake Partners, Texas Pacific Group and other buyout firms that are the largest shareholders of Seagate Technology Inc. cut their stake in the company Thursday by 13.7%, selling $1.12 billion worth of shares. The firms sold as many as 60 million shares in Seagate at $18.75 each. The stock closed Thursday at $18.93, down 57 cents, in New York Stock Exchange trading. The group invested $1.1 billion in Seagate -- which is based in the Cayman Islands and run from Scotts Valley, Calif.

Seagate Technology Inc. said it will cut 8,000 jobs, or 10% of its workers, to streamline its business in the face of falling prices. The computer disk drive maker said it will take a $200-million pretax charge this quarter for the cuts, which will be made through firings, voluntary severance and retirement at plants in Asia, Scotland and the U.S. during the next nine months. Shares of Scotts Valley, Calif.-based Seagate fell $1.06 to close at $31.94 on the New York Stock Exchange.

Scotts Valley-based Seagate Technology Inc. promoted Stephen Luczo to the new position of president and chief operating officer at the world's largest independent disk drive maker. Luczo, 40, will oversee Seagate's storage products, recording media and recording heads businesses. He will remain chairman of Seagate's software division. . . . Oakville-based Robert Mondavi Corp.

Seagate Technology to Lay Off 500: The Scotts Valley, Calif.-based computer storage manufacturer will make the move as it absorbs former rival Conner Peripherals Inc. The layoffs result from redundancy between Seagate and Conner's engineering and corporate staffs. But employees could be hired back by Seagate Technology Inc., which has several hundred openings in Longmont, Colo., Simi Valley and elsewhere.

Driven by increasing demand for computer memory products, Seagate Technology Inc. said Monday that it will make a major investment in robotic manufacturing equipment at its Anaheim plant. A spokesman for the Scotts Valley, Calif., company declined to say how much the company would invest in the 274-employee plant. Up to 25 new jobs could be added over the next three years as a result of the new investment, the spokesman said.

Seagate Technology Inc. of Scotts Valley, Calif., said it plans to build a $21.5-million advanced recording head manufacturing plant, its fourth in Malaysia.

Scotts Valley-based Seagate Technology Inc. promoted Stephen Luczo to the new position of president and chief operating officer at the world's largest independent disk drive maker. Luczo, 40, will oversee Seagate's storage products, recording media and recording heads businesses. He will remain chairman of Seagate's software division. . . . Oakville-based Robert Mondavi Corp.

Seagate Technology Inc. said Thursday that it filed a countersuit against International Business Machines Corp., claiming that IBM has engaged in unfair business practices by ddnattempting to block current and former employees from working for competitors. The suit, which seeks damages and an injunction against IBM, was filed in U.S. District Court in St. Paul, Minn.