Not surprising at all, but still bad. A 17 percent drop in share prices for Seagate is huge. Even if we were not already expecting layoffs, this would be the final nail in the coffin. Now I am just worried that this will push the number of people who are on the chopping block even further up.
http://www.marketwatch.com/story/seagate-technologys-stock-plunges-after-profit-and-sales-miss-ceo-change-2017-07-25