Maxtor to Cut 900 Jobs

By Dave

People think we are coming into a new bubble, and yet everywhere I turn, major names are dropping people.

Maxtor plans to cut 900 jobs in Singapore. Maxtor is currently in the middle of an acquisition deal with fellow hard drive maker Seagate. The deal is supposed to officially close in May but Maxtor stated today that the Seagate merger could be delayed until after June 30 “if regulatory and stockholder approvals are not obtained in time for a May closing.”

While, I know this one article is not proof that there is no new bubble, I think many others in the tech sector would agree with me that there is no bubble, just a readjustment because tech is back in the forefront of the world stage due to it being in just about everything everyone uses.

It will be interesting to see what the new Maxgate (Maxtor/Seagate, and no that’s not their new name), will be able to come up with.

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