SANTA CLARA, CA – As part of a restructuring plan, Agilent Technologies Inc. announced that it will eliminate 500 positions. The majority of layoffs will occur next year by May 31, with the remaining cuts completed by the end of October.
 
In addition, Agilent has cut over 300 positions within its temporary workforce. Effective January 1, employees will also see temporary pay cuts and/or required time off-without pay.
 
The restructuring, according to the company, will enable annual operating expenses to be reduced by nearly $65 million; the reduction in pay will save $100 million. Agilent plans to take a $55 million pre-tax charge, mostly for employee severance.

LAKE FOREST, CA – Western Digital Corp. (WD) has announced several cost-cutting measures designed to boost its bottom line. The demand for hard drives is below expectations, and revenues for December have been revised. Originally predicted to fall between $2.025 billion and $2.150 billion, new figures expect revenue for the month to be between $1.7 billion and $1.8 billion.
 

Those additional steps, scheduled to be completed by March 2009, include a 5% reduction in its worldwide workforce through a layoff that will affect approximately 2,500 employees. One of its hard drive manufacturing plants in Thailand will close, and a media substrate plant in Malaysia will either close or be sold.
 

“We are taking these actions in order to strengthen our financial position and enhance the ability of our business to withstand an extended period of depressed demand while continuing to invest in the technologies, products and processes required to assure the continued success of our business,” explained Coyne.