Xyratex will lay off 320 people in West Sacramento, Xyratex Ltd is a Data storage systems firm that employs 320 people at its West Sacramento manufacturing plant. On Friday, a company executive said the company will lay off 320 employees and move some of its operations to Mexico. According to an April 12 article in The Sacramento Bee, A group of corporate officers and staff will stay in West Sacramento while full-time and contract manufacturing and assembly workers will lose their jobs.
The company decided to move to Guadalajara after it lost Network Appliance as a major client. Network Appliance is a data management firm that was sending declining orders to Xyratex.
Xyratex (NASD: XRTX) has more clients in Mexico. The company claims to have a global reach with businesses in North America, Asia and Europe
According to an October 2012 article in Recent Business News, Xyratex had fiscal third quarter net earnings at $ 7.7 million. This was down from $ 9.7 million a year earlier. The company had weaker Enterprise storage demand than expected, and this was blamed for the loss.
AP Yahoo News reported on April 5 that an analyst raised Xyratex's price target. The reason was fiscal first-quarter results that exceeded Wall Street's expectations. At the time the company seemed to be exploring such options as selling or going private.
The company shook up its executive levels in early April, according to an April 3 TMC NET article. Steve Barber stepped down as Chief Executive Officer and member of the Board of Directors. Ernie Sampias stepped in as Interim Chief Executive Officer, and the search is on for a permanent replacement.
West Sacramento lies across the Sacramento River from the city of Sacramento. The city has seen considerable growth and development, but will have to work through slowly recovering economic conditions like other Sacramento region cities.
The company decided to move to Guadalajara after it lost Network Appliance as a major client. Network Appliance is a data management firm that was sending declining orders to Xyratex.
Xyratex (NASD: XRTX) has more clients in Mexico. The company claims to have a global reach with businesses in North America, Asia and Europe
According to an October 2012 article in Recent Business News, Xyratex had fiscal third quarter net earnings at $ 7.7 million. This was down from $ 9.7 million a year earlier. The company had weaker Enterprise storage demand than expected, and this was blamed for the loss.
AP Yahoo News reported on April 5 that an analyst raised Xyratex's price target. The reason was fiscal first-quarter results that exceeded Wall Street's expectations. At the time the company seemed to be exploring such options as selling or going private.
The company shook up its executive levels in early April, according to an April 3 TMC NET article. Steve Barber stepped down as Chief Executive Officer and member of the Board of Directors. Ernie Sampias stepped in as Interim Chief Executive Officer, and the search is on for a permanent replacement.
West Sacramento lies across the Sacramento River from the city of Sacramento. The city has seen considerable growth and development, but will have to work through slowly recovering economic conditions like other Sacramento region cities.
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