Hard drive maker Seagate will cut 1,600 jobs as part of a restructuring plan (STX)

Hard-disk drive maker Seagate Technology said it was cutting about 1,600 jobs, or 3 percent of its workforce, as part of a restructuring plan to reduce costs.

Seagate said the plan, which it expects to complete by the end of the September quarter, is likely to result in total pre-tax charges of $62 million.

The charges will be accounted for mainly in Seagate's fourth-quarter results, the company said.