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May 23, 2006
Longmont, Colo. -- Seagate Technology's acquisition of rival hard disc manufacturer Maxtor Corp. could mean layoffs for up 640 people at its Longmont facility, a Seagate spokeswoman said Monday.
Christina Dukeman, a Seagate spokeswoman said the company will offer positions to about 25 percent of Maxtor's estimated 850-employee work force in Longmont. Seagate also employees about 1,300 in Longmont.
"We certainly recognize that the city of Longmont and Boulder County are going to feel the impact of the loss of Maxtor jobs," Dukeman said. "Here locally ... the Maxtor facility and the Seagate facility are design centers, so there's a lot more duplication in function. It's the painful part of acquisitions and we're trying to be sensitive to that and do it with due diligence."
In a statement, Seagate estimates that more than 50 percent of Maxtor's 6,400 employees worldwide won't be offered a position with the newly merged company. The vast majority of Maxtor employees who will remain with the company are those located in Asia Pacific manufacturing operations.
Those who will be retained in Longmont "will be a combination of professional positions that include engineering and product development, customer service and administrative functions," said Cindy Martini, a local spokeswoman for Seagate.
The deal, which gave Maxtor stockholders 0.37 shares of Seagate common stock for each Maxtor share in a deal worth at least $1.9 billion, closed Friday and was announced Monday.
The Longmont Area Economic Council estimated the Maxtor facility employs about 865 people.
Martini said the first layoff notices could go out in the next few days.
The largest single company loss of jobs in the area came in May 2002 when Flextronics closed its facility on Interstate 25, according to the Daily Times-Call.
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