I've been trying to find if it confirms anywhere whether these newly announced cuts are part of Seagate's previously announced 6,500 layoffs, or an addition to it. As a knee-jerk reaction to lousy quarterly results, it stands to logic that they are newly added. However, it could be a part of the original number that is just being touted to calm the shareholders down. If anybody finds the correct information, please share!
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If you listen to the shareholder call one of the investors asked something similar. Seagate indicated it has been in the works and was not a knee-jerk reaction.
It's new, two separate sec filings.... Expected cuts tomorrow.