http://www.twincities.com/business/ci_21843208/imation-3q-revenue-off-20-percent-layoffs-coming
Layoffs are coming to Imation Corp., which
reported third-quarter revenue fell nearly 20 percent, making it
unlikely the company will grow this year, CEO Mark Lucas said Wednesday,
Oct. 24.
The Oakdale-based maker of optical discs, magnetic tape and flash
drives will realign its business into two units and reduce its global
workforce by about 20 percent next year, the company said.
Revenue for the quarter ended Sept. 30 was $248.2 million, down 19.6 percent from the previous year.
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