Seagate struggles in market slowdown; plans cuts in mid-January

By JENNIFER PITTMAN
Posted: 01/03/2009
Santa Cruz Sentinel

SCOTTS VALLEY — After a dismal December, Seagate Technology finally got a little good news Friday, thanks to an upbeat — though qualified — analyst report that cited the company’s recent cost-cutting efforts and improved competitiveness in the notebook market. Shares jumped a whopping 65 cents or 14.7 percent.

It was, however, a small reprieve in a sea of bad news for the disk drive maker that saw its stock dive more than 80 percent last year. (MORE)

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