CUPERTINO — Iconic Silicon Valley hardware manufacturer Seagate Technology will cut 6,500 jobs worldwide over the next year, the firm reported Monday.

The company, best known for making PC hard drives, said the 14 percent workforce reduction was part of a restructuring and “footprint consolidation” that would help the bottom line. The jobs to be eliminated are in the Americas, Asia, Europe, the Middle East and Africa, the company said.

The cuts will cost the Cupertino-based Seagate $164 million during the fiscal year, including $82 million in employee termination expenses, the company said in a filing with the Securities and Exchange Commission.

The announcement came on the heels of an advisory by Seagate late last month that it would eliminate 1,600 jobs globally.

Seagate’s most recent quarterly report showed a $21 million loss for the quarter ended April 1, after the company brought in $291 million in income for that period last year. Revenue fell to $2.6 billion from $3.3 billion for the quarter over the same period last year.

For the nine months that ended April 1, revenue had dropped to $8.5 billion from $10.8 billion the year before. However, the company’s cost of generating revenue also declined, to $2.1 billion for the quarter ended April 1 from $2.4 billion, and to $6.6 billion from $7.8 billion for the nine months preceding April 1.

In Monday’s announcement, Seagate upgraded its estimated revenue for the quarter that ended July 1 to $2.65 billion, from a forecast of $2.3 billion. The firm chalked up the improvement to “better-than-expected” demand for hard disks. In a market where businesses are increasingly turning to semiconductor-based flash storage, Seagate sold record numbers of high-capacity disks in the latest quarter, said CEO Steve Luczo.

Seagate has moved to adapt to the shift in the storage market, in 2014 buying former San Jose firm LSI Corp.’s flash business “to deliver a full suite of storage solutions … for the growing flash storage market,” Seagate’s most recent quarterly report said.

Meanwhile, the firm has faced questions about the sustainability of its 11 percent dividend yield. Average yields on Nasdaq, the market in which Seagate trades, are below 2 percent.

The company’s stock rose in after-hours trading after it made the announcement, hitting $27.07 after opening Monday at $24.14.

Seagate said it would report fiscal year-end financial results on Aug. 2, along with results from the most recent quarter.

Contact Ethan Baron at 408-920-5011 or follow him at Twitter.com/ethanbaron.