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Seagate plans to boot 20 percent of its executives to turn its business around from plunging hard drive sales. The company will be laying off five senior vice presidents and 17 vice presidents by May.
Seagate even came up with a very surprising decision, ousting consumer products divisional president Brian Dexheimer. Dexhiemer has been with Seagate for 20 years and the company’s move took everyone aback.
Dexheimer will serve Seagate until June 30; and his responsibilities will then be shared by other staff. Seagate claims it is still working out a deal with Dexheimer.
The cutbacks follow chief executive Stephen Luczo’s promise to straighten its management structure. Last January, Seagate made a surprising move when it fired chief executive, Bill Watkins, and declaredd it had to terminate 2,950 people.
