SEA­GATE OUSTS CEO, TO CUT 600 JOBS

The Denver Post - - BUSINESS - — Hay­ley Shear, Long­mont Times-Call

Data stor­age com­pany Sea­gate Tech­nol­ogy, which has a large man­u­fac­tur­ing fa­cil­ity in Long­mont, said Tues­day it is re­plac­ing its CEO and will slash 600 jobs com­pa­ny­wide.

It is un­clear if any po­si­tions will be cut in Colorado. A spokes­woman said more in­for­ma­tion about the lay­offs will be avail­able Wed­nes­day.

Sea­gate em­ploys more than 50,000 world­wide, in­clud­ing roughly 1,600 in Colorado.

Chief op­er­at­ing of­fi­cer Dave Mosley will be­come the new CEO and cur­rent CEO Steve Luczo will tran­si­tion to ex­ec­u­tive chair­man ef­fec­tive Oct. 1.

In­dus­try an­a­lysts said the com­pany’s earn­ings have been dis­ap­point­ing and they ex­pect low growth to con­tinue for the next two quar­ters.

Mosley joined Sea­gate in 1995. “I am hon­ored to lead Sea­gate into the next era of lead­er­ship in the stor­age tech­nol­ogy mar­ket and I am ex­cited about the op­por­tu­ni­ties ahead for the com­pany,” he said in a news state­ment.

Last July, Sea­gate an­nounced 6,500 jobs would be cut over the next two years.

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