Western Digital to slash 2,500 jobs, cut executive pay

Hard drive maker Western Digital said Tuesday it plans to cut 2,500 jobs, or about 5 percent of its global workforce, and will reduce executive pay in response to weakening demand for its products linked to the economic turmoil. Western Digital said demand for the current quarter is “significantly below” what it expected when it issued revenue guidance in October. The company now expects fiscal second-quarter sales of $1.7 billion to $1.8 billion, with a “consequent reduction in operating results.”