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Hutchinson Technology Cutting Over 1,000 Jobs

Maker of disk-drive components says it will cut as many as 1,125 jobs as demand for its products weakens during the slow economy.

HUTCHINSON, Minn. (AP) -- Hutchinson Technology Inc. says it will cut as many as 1,125 jobs, as demand for its products weakens during this slow economy.

Hutchinson Technology makes disk-drive components and is based in Hutchinson.

The company said Tuesday it will cut 20 to 25 percent of its current work force of 4,500 employees. The employees that stay will take a 5 percent pay cut.

These moves and others are expected to save $65 million to $80 million a year.

HTI spokeswoman Connie Pautz said it's part of a restructuring that will happen in January, and there are no details yet on how many workers will be cut at various company sites, including the Eau Claire, Wis., plant that has 1,350 workers.