Hutchinson Increased Worforce Reduction to 30% or 1,380 Employees

Here is an abstract of a SEC filing published by Hutchinson Technology Incorporated:

"On January 12, 2009, Hutchinson Technology Incorporated provided local and state government officials and local media outlets with an update regarding its previously announced workforce reduction.

"Specifically, the Company communicated that the workforce reduction will total approximately 1,380 or approximately 30% of its workforce. This increase over the Company’s previously announced plan of a 20-25% workforce reduction is primarily due to a lower demand outlook for its fiscal year 2009 and continued market and economic uncertainty."