Seagate has been attempting to ramp up its products into the lucrative cloud and data centre market and PC sales has fallen. While it has had some success, it has not been enough to make up for the fact that PC sales just get more depressing as the years continue.

The company said the restructuring is expected to result in total pre-tax charges of $62 million and is likely to be completed by the end of the September quarter It will result in about $100 million in savings on an annual run rate basis, the company said.

The company, which has about 52,000 employees worldwide, had said in September it would cut 1,050 jobs.

It is not the only harddrive maker which is suffering. Fellow disk-drive maker Western Digital which bought SanDisk in May, reported a revenue decline of 21%, to $2.82 billion, for its April 1 quarter.

Fellow disk-drive maker Western Digital Corp. , which bought SanDisk Corp. in May, reported a revenue decline of 21%, to $2.82 billion, for its April 1 quarter.