Seagate is taking actions that continue to underpin our resilient business model in a challenging environment. Our FY2016 plans have us well positioned to pursue future revenue opportunities, but in the near term we are faced with macroeconomic pressures that require us to bring down our costs.
After thoughtful review of our budgets, expenses and infrastructure costs we have concluded that we must make adjustments to our workforce. This difficult decision will affect approximately 1,050 employees or about 2% of the global workforce. The employees are based across sites in the Americas, Asia and EMEA spanning all levels of the professional workforce.
These actions will begin September 9 in the US and will continue over the coming weeks in other regions. Timing will vary depending on geographical requirements.
Thank you for your professionalism and understanding. Please offer your full support to our colleagues who will be transitioning out of Seagate. We ask that you stay focused. We have a long-term view, and are taking the necessary actions to align our business to the environment.