BUSINESS BRIEFING / TECHNOLOGY
Times Staff and Wire Reports
Western Digital Corp., a Lake Forest hard-disk drive maker whose shares have doubled this year, was picked to replace Embarq Corp. in the Standard & Poor’s 500 Index.
Embarq, which CenturyTel Inc. is buying, will be removed from the index on a date to be announced later, S&P; said.
Western Digital cut more than 2,000 jobs last year, pared executive salaries, slowed production and began selling higher-profit products to combat a global slump in technology spending.
