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Seagate shuts down its plant in Suzhou

Seagate BarraCuda Pro 10 TB hard disc drive, Samsung shuts down Suzhou manufacturing plant
Seagate BarraCuda Pro
The world's largest hard disk maker is going through a global business restructuring plan and, due to a slowing market, recently announced the plan to shut down a manufacturing plant and to cut over 6,500 jobs worldwide.

Solid state drives and even eMMC storage are burning through the profits of hard drive makers and the world's largest one, Seagate, seems to suffer a lot. As a direct consequence of the market's evolution, the company entered a global restructuring plan that involves cutting over 6,500 jobs.

Seagate unveiled to the Chinese press that the cost-cutting plan was set in motion back in July 2016. After the closure of the Suzhou hard drive plant, the company will keep two hard drive manufacturing facilities - one in China and the other in Thailand. However, Samsung plans to expand its manufacturing facilities in Thailand, due to lower salaries for skilled workers than in China.

The Suzhou plant's import/export values un 2016 fell 37.5 percent from 2015 - $1.2 billion from $1.92 billion. Back in 2015, the company revealed its plans to invest about $470 million in Thailand by 2020. More than 2,000 people will lose their jobs this week, as the Suzhou plant closes its gates.

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> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2017 01 > Seagate shuts down its plant in Suzhou
Codrut Nistor, 2017-01-17 (Update: 2017-01-17)
Codrut Nistor
Codrut Nistor - News Editor
Although I have been writing about new software and hardware for almost a decade, I consider myself to be old school. I always enjoy listening to music on CD or tape instead of digital files and I will not even get into the touchscreen vs physical keys debate. However, I also enjoy new technology, as I now have the chance to take a look at the future every day. I joined the Notebookcheck crew back in 2013 and I have no plans to leave the ship anytime soon.