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Hard-drive maker Seagate Tech faces China sanctions warning


BEIJING (AP) — Seagate Technology says the U.S. Department of Commerce has warned it may charge the computer hard-drive maker with violating restrictions on exports of high-tech products to China. The company said in an SEC filing Thursday that it had not committed any violations. It said the allegation is over sales between August 2020 and September 2021 to “a customer and its affiliates.” But the company, registered in Ireland, said the situation could affect its business. Seagate said, in reporting lower profit and revenue for its fiscal first quarter, that it was reducing its headcount by 3,000 people as part of a restructuring. It cited global uncertainties and slower demand.

Article Topic Follows: AP National Business

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