On November 19, 2008, the officers of Quantum Corporation (the "Company" or "Quantum") approved and communicated to its employees a plan to reduce headcount by approximately 180 positions to reduce overall operating expenses and improve the Company's cost structure. While largely a response to the global financial crisis and market uncertainty, these actions also reflect the Company's continuing efforts to shift investments to capitalize on opportunities in the disk-based deduplication and replication market, including the opportunities provided through its collaborations with EMC and Dell to drive deduplication, replication and management commonality across product lines by leveraging Quantum software. These actions are expected to be completed by March 31, 2009, with the majority occurring by December 31, 2008. The Company expects these actions to result in annual savings of approximately $18 million. The costs associated with these actions consist of one-time termination benefits. The Company's preliminary estimate of these costs is approximately $4.4 million, and substantially all of these charges will result in future cash expenditures.

This Current Report on Form 8-K contains forward-looking statements, including, but not limited to, statements regarding the expected costs and cost savings, including the timing of such savings, related to the announced actions. These forward looking statements are only predictions based on current information and expectations and are subject to certain risks and uncertainties, including, but not limited to, Quantum's ability to successfully implement the workforce reductions as expected, possible changes in the size and components of the expected costs, and general economic conditions. More information about potential factors that could affect Quantum's business and financial results is included in the "Risk Factors" set forth in the periodic reports Quantum files with the Securities and Exchange Commission from time to time, including Quantum's Annual Report on Form 10-K for the fiscal year ended March 31, 2008 and its Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2008. Actual results could differ materially from those set forth in the forward-looking statements as a result of such risk factors, as well as other risks and uncertainties. Quantum assumes no obligation to, and does not currently intend to, update these forward-looking statements.

A copy of Quantum's related press release is attached as Exhibit 99.1 and incorporated by reference.

(d) Exhibits.

The following exhibits are filed herewith:

Exhibit
Number      Description
99.1      Quantum Press Release, dated November 24, 2008