Seagate Technology Holdings plc engages in the provision of data storage technology and infrastructure solutions in Singapore, the United States, the Netherlands, and internationally. The company offers mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives. It also offers legacy applications comprising Mission Critical HDDs and SSDs; external storage solutions under the Seagate Ultra Touch, One Touch, Expansion, and Basics product lines, as well as under the LaCie brand name; desktop drives for personal computers and workstation applications; notebook drives traditional notebooks, convertible systems, and external storage applications, DVR HDDs for video streaming applications, and gaming SSDs for gaming rigs. In addition, the company provides Lyve edge-to-cloud mass capacity platform, that includes modular hardware and software to support enterprises' on-premise and cloud storage infrastructure needs. It sells its products primarily to original equipment manufacturers, distributors, and retailers. The company was founded in 1978 and is based in Singapore.
Seagate Technology Holdings plc has announced the layoff of 500 employees globally as part of its restructuring efforts. This decision comes alongside the cancellation of plans for a new building in Shakopee, indicating a strategic shift in the company's operations. The layoffs reflect the company's response to current market conditions and aim to streamline its workforce. This move is part of a broader trend in the tech industry, where companies are adjusting their staffing levels in light of economic pressures. The layoffs are effective immediately, impacting various locations worldwide.
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