Hard drive manufacturer Seagate has reported that it will lay off 2,000 workers in Singapore – over 4% of its global workforce. It will close manufacturing facilities in the city-state in an effort to reduce spending by $40 million a year. The company said its decision would result in restructuring charges of $80 million in total, $60 million of which will be dished out in severance pay and up to $10 million for the relocation of equipment.

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