Quantum Corp. To Cut 800 Jobs
MILPITAS, Calif. (AP) _ Computer disk drive and storage drive maker Quantum Corp. is eliminating 800 jobs _ about 13 percent of its work force _ to better compete in the rapidly growing low-cost computer market.
Quantum will record a special charge of $50 million for its second quarter ending Sept. 26 as part of a restructuring of its desktop hard disk drive business, the company said Thursday.
The company plans to lay off 650 to 700 employees at its headquarters in Milpitas, Calif. and Dundalk, Ireland over the next year.
Quantum also said it’s consolidating the development of some of its products, resulting in the immediate loss of 115 jobs.