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Seagate to cut 500 in Oklahoma

OKLAHOMA CITY, Okla.--Hard-drive maker Seagate Technology will lay off 500 people at its Oklahoma plant here, The Daily Oklahoman newspaper reported Tuesday. The work force at the plant has dwindled over the last decade from more than 3,000 to 1,300 workers, as Seagate has shifted more manufacturing operations overseas. Seagate went private last year as part of complex acquisition deal worked out by Veritas Software and several investment groups.

OKLAHOMA CITY, Okla.--Hard-drive maker Seagate Technology will lay off 500 people at its Oklahoma plant here, The Daily Oklahoman newspaper reported Tuesday. The work force at the plant has dwindled over the last decade from more than 3,000 to 1,300 workers, as Seagate has shifted more manufacturing operations overseas.

Seagate went private last year as part of complex acquisition deal worked out by Veritas Software and several investment groups.