On January 11, 2017, hard drive manufacturer Seagate announced that it will close its manufacturing plant in Suzhou, China, and lay off 2,000 people. This is part of Seagate's restructuring plan that began in July 2016, reducing production scale and better adapting to market demand. .
The Seagate Suzhou plant has publicly disclosed the announcement, in order to optimize operational efficiency, and has to make a decision to dissolve the factory in advance, while Seagate will lay off 2,000 people. The departure and demobilization will take place from January 11th to January 18th. The company will pay compensation to employees in accordance with relevant regulations. Dissolving this plant will reduce Seagate's global production scale and better adapt to changes in market demand.
Since July 2016, Seagate announced that it will reorganize its business globally to enhance business flexibility. The closure of the Suzhou plant and layoffs are part of this plan. Seagate plans to lay off 6,500 people before the end of FY17, reducing the total number of employees worldwide by 14%.
The news that Seagate shut down the Suzhou plant came out as early as December 2016, and the plant began layoffs in September 2015. Seagate's hard drives are mainly used in PC products. Due to the continued weakness of the PC market, Seagate's business has been greatly impacted.
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