Seagate replaces CEO, plans to cut 800 workers

(AP) -- Seagate Technology has replaced its top two executives and said it plans to cut 800 jobs - 10 percent of its U.S. work force - as the hard drive maker endures a bruising slowdown in technology spending. Its stock fell more than 15 percent.

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<p><a href="http://www.physorg.com/news151051959.html">Seagate replaces CEO, plans to cut 800 workers</a></p> <p>(AP) -- Seagate Technology has replaced its top two executives and said it plans to cut 800 jobs - 10 percent of its U.S. work force - as the hard drive maker endures a bruising slowdown in technology spending. Its stock fell more than 15 percent.</p>