IANS | 05 Jun, 2020
US data storage company Seagate Technology has laid off 500 employees or one per cent of its global workforce in 12 countries. According to Silicon Valley Business Journal, it wasn't clear where exactly the job cuts were located.
In
a regulatory filing, the company said the job cuts are "intended to
drive additional operational efficiencies and better position the
company to capitalize on secular growth opportunities driven by
increasing demand for mass capacity storage and data management from
endpoints to edge to core".
The data storage company said it aims
to consolidate its facilities in Minnesota to one location and
"continue to align resources to better support future growth prospects."
Another
data storage company Hitachi Vantara laid off 151 employees at its
Santa Clara headquarters in the US in February this year, said the
report.
According to an IDC report this month, spending on
storage (server-based platforms and externally attached platforms and
systems) is estimated to grow at a five-year CAGR of 18.5% and reach
$5.73 billion globally.
"Spend on computing platforms (servers
including accelerators and interconnects) is estimated to grow at a
five-year CAGR of 16.2 per cent and reach $28.07 billion," said the IDC.
