THERE is more bad news on the jobs front in Derry with US tech giant Seagate saying it is to cut 70 jobs from its workforce in the city.
The company said in a statement that they would be making the redundancies at their Springtown base.
“It is not easy to make decisions that affect people’s lives in this way, but we believe this is the best way forward for the company right now,” the statement read.
The redundancies will be a mixture of both voluntary and compulsory, with the 70 jobs coming out of their 1,400-strong workforce.
The firm added: “As indicated in recent public statements related to our latest earnings announcement, Seagate is undertaking a number of actions to better position the company for success and growth and to respond to new demand levels within the industry.
“These new levels are a result of a very dynamic and disrupted storage industry, driven by accelerating usage shifts of technologies and architectures by end users, and underpinned by a weak macro-economic environment.
“Unfortunately the required actions include some reduction in the company’s workforce,” the statement concluded.
