Maxtor Layoffs Longmont

Seagate and Maxtor both have offices in Longmont. Over the years they have been two of the biggest employers in Longmont. Recently, Seagate has acquired Maxtor and the companies are integrating.

It was announced yesterday as part of the Maxtor acquisition that Seagate will be cutting 6,000 employees from the Maxtor work force worldwide. And 650 of those jobs being cut reside in Longmont.

This was expected news since Seagate plans to phase out the Maxtor disk-drive product line.

These layoffs will affect the Longmont real estate market in a negative way. More properties will be listed for sale thus increasing an already large inventory of homes and condos for sale in Longmont. And the builders are still building new housing in southwest Longmont and eastern Longmont. Demand is decreasing while the supply will continue to increase. So, the market will continue to remain soft in Longmont for some time.