Maxtor laying off...

[Keefe]

I guess Maxtor can't compete with Western Digital as well as they used to.  This memo was sent to all employees:

To:  All WW Maxtor Employees
From: Mike Cannon
Date: April 11, 2002

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We are making dramatic progress in pursuit of our business and
corporate objectives. While we are continuing to invest
strategically to drive future growth, we must maintain our focus on
delivering the product plan, executing in all areas of Maxtor's
business and returning the company to sustained profitability.  

To accelerate our progress toward profitability, we must monitor
and ensure that our resources are allocated and aligned with our
business structure and strategy. This process will result in the
elimination of some jobs. At this time, we anticipate a reduction
in force of approximately 85 positions, most of which are in
Colorado and California. Affected employees will be notified in
April 2002, and will receive a severance package and outplacement
support.  

Additional information will be available on Maxtor M.A.I.N.  

Maxtor is well positioned for the future, and I am optimistic about
the growth prospects for our company. I appreciate your continued
support and dedication.  

AKA - Their screwed!