The Mass layoff at Imation Corp.'s Oakdale headquarters will affect 124 employees. The affected employees were notified September 29, 2015 that their last day of work would fall between November 30, 2015 and December 14, 2015. The cuts are part of a massive restructuring being undertaken by the company. It also is ending its licensing agreement with TDK.

The company said that it also has terminated four high-ranking executives: CFO Scott Robinson, General Counsel John Breedlove, Gregory Bosler, group president of consumer storage and accessories, and R. Ian Williams, group president of tiered storage. Except for Williams, the terminated executives will stay on into the first quarter 2016. Williams' termination took effect September 29, 2015, and he will continue to provide consulting services until November 27, 2015. Lucas remained CEO through August 2015.