Derry MP and MLAs meets with Seagate bosses over job fears

Seagate currently employs 1,650 people at its Springtown base, making it one of the largest employers in the region.

While there has been no specific details about potential impacts in Derry, the US firm has confirmed this week that it has ‘committed to a global restructuring plan to reduce its cost structure in response to changes in macroeconomic and business conditions’.

Speaking after the meeting, Colum Eastwood MP said: "Recent announcements of potential job cuts and pay cuts at Seagate's operation in Derry have been disheartening news. Seagate is a crucial employer in Derry and the north west, employing highly skilled staff in various roles. Seagate has been a critical driver of economic growth in our city and region since it first arrived and remains and a much-appreciated asset to Derry's economy.

"Following yesterday's news, I met with senior management at Seagate along with my SDLP colleagues Mark H Durkan and Sinead McLaughlin to press the need to keep jobs and employment in our city and stress how detrimental these job losses would be to our local economy. Workers and their families must be put first.

"We will continue to work closely with Seagate and encourage alternative solutions are put in place to protect jobs, workers and the local economy."

In a statement earlier this week a spokesper son for Seagate has said: “As noted in our earnings press release on 20 April 2023, the company has committed to a global restructuring plan to reduce its cost structure in response to changes in macroeconomic and business conditions.

"The global plan is intended to align the company’s operational needs with the near-term demand environment while continuing to support the long-term business strategy.”

The company said it could not speculate ‘on any numbers or positions while our restructuring is in progress’.

“As noted in our press release, we expect this process to be substantially completed by the end of the current quarter."