July 25, 2017 / 12:34 PM / 7 months ago

BRIEF-Seagate Technology Plc says company committed to an additional restructuring plan to reduce its cost structure

July 25 (Reuters) - Seagate Technology Plc:

* Seagate Technology Plc - on July 25, 2017, company committed to an additional restructuring plan to reduce its cost structure

* Seagate Technology Plc says pursuant to restructuring plan, company intends to reduce its global headcount by approximately 600 employees

* Seagate Technology Plc says savings generated from restructuring plan are expected to be recognized beginning in Q1 of fiscal year 2018

* Seagate Technology Plc - savings generated from plan will represent approximately $90 million in savings on an annual run rate basis

* Seagate Technology - reduction in global headcount is expected to result in total pre-tax charges of approximately $50 million, primarily in Q1 of FY 2018

* Majority of the pre-tax charges charges will be comprised of cash expenditures on severance and employee-related costs Source text: (bit.ly/2vWoA9n) Further company coverage:

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