The ongoing economic crisis begins to claim victims even in the High Tech sector.
Seagate has announced a cut in recent days by 6% of its workforce (about 3000 redundancies) and reduce the salaries of its officials up to 25%. Seagate expects to recover € 130 million a year due to restructuring, the only pay cut to allow for recovery of € 80 million.
In recent days, Intel has announced its results for the fourth quarter of 2008, which has seen sales decline in the profits while not accusing any loss.
The revenues totaled about $ 8.2 billion, down 23% compared to $ 10.7 billion for the same period last year. Profits totaled $ 234 million, down 90% compared to $ 2.3 billion for the same period last year.
Sony Ericsson has closed the last quarter of 2008 with a loss of EUR 187 million over the same period last year had a net profit of 373 million euro, and ended 2008 with a loss of 73 million € . In addition, the units sold in 2008 were 96.6 million against 103.4 million the previous year.