Seagate, the biggest maker of computer hard drives, said it’s eliminating about 3,000 jobs and that big buyers of technology are cutting orders on concerns the economy is worsening. From a report: “Global economic uncertainties and broad-based customer inventory corrections worsened in the latter stages of the September quarter, and these dynamics are reflected in both near-term industry demand and Seagate’s financial performance,” Chief Executive Officer Dave Mosley said in a statement. “We have taken quick and decisive actions to respond to current market conditions and enhance long-term profitability, including adjusting our production output and annual capital expenditure plans.”

Separately, Seagate said it has been accused by the US Commerce Department of violating US export rules by selling hard drives to a sanctioned entity. Reuters reported that the entity was Huawei. The company denied it violated the rules. The US company’s push back may prove a test of tightening restrictions against the provision of technology to China by the Biden administration, which has cited national security concerns in actions it’s taken against companies such as Huawei. Most of the actions to date have focused on semiconductor technology.

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Source: Slashdot – Seagate To Cut 3,000 Jobs, Faces Charge of Violating Sanctions