The restructuring plan will "deliver meaningful cost savings while maintaining investments in mass capacity solutions driving our future growth." He said there is still strong "engagement" from cloud customers. Data demands are growing at a fast clip, requiring mass capacity storage for years to come, analysts have noted. "Seagate is in a great position to capture growth opportunities over the long-term," Mosley added. In a call with analysts, he added, "I'm confident Seagate will navigate through these…conditions." Job cuts are on the minds of many tech CEOs.