Hitachi to slash workforce by 11 percent
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Hitachi Global Storage Technologies plans to close a manufacturing plant in Mexico and lay off around 11 percent of its 40,000-person global workforce in a bid to shore up its hard disc drive (HDD) operations.
The company expects the moves to save it $300 million over the next five years through streamlined operations and better efficiency, it said in a statement Thursday. The plan is expected to be completed by the end of 2008. By the middle of that year, Hitachi expects to have shut down an HDD component factory in Guadalajara, Mexico, and phase out the production of media components at its Odawara, Japan, operation, it said.
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