The semiconductor slump has claimed another victim with the news that disk drive maker Seagate is pulling out of its Livingstone semiconductor plant, putting 275 jobs at risk.
Seagate has been losing money and has decided that semiconductors isn't a business it needs to be in.
The Livingstone site manufactures chips for use in Seagate hard drives that are built in the Far East. In the current climate there is enough semiconductor capacity available for the company to buy in the chips from elsewhere.
The decision to pull out reverses an expansion strategy the company announced at the beginning of this year. This included a $40 million upgrade to the plant and an increase of staffing levels to 375.
Seagate does now however hope to sell the plant as a going concern, so immediate redundancies are not on the cards.
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