Western Digital announced today that they are closing one of their 3 manufacturing plants in Thailand, and laying off around 5% of their total workforce — roughly 2500 people. In addition to the closure, they are cutting back production at their other fabrication plants, and reducing compensation to upper management.
This is a reaction to lower then expected third quarter revenues, and was not entirely unexpected. I just hope we don’t end up having to bail them out too.
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