What a crock. First the RIFs. Then cost cutting measures. Workload higher than ever. Now no mid-year bonus. BUT the stock holders get a near record high $0.70/share dividend. Wonder how much of this $145 M is going to the execs?
See, there is life beyond spinning dust. Good luck over there!
"Diversity, equity and inclusion (DEI) is at the center of Seagate's technological achievements and long-term success" You can say it's important, needed, a part of the world today, but to say it's the CENTER is absolutely ridiculous. Technological... — read more
Good to see Seagate finally getting rid of some of those Maxtor good old boy club members. These guys were a failure at Maxtor and somehow got to be senior managers at Seagate. Thank goodness this club is getting whacked and making room for more... — read more
Look around and you will see that most engineers are 50+ For youngsters - this is a great company to work for about 5 years -- learn as much as possible and then leave. There will be no growth for young engineers.. Do not expect promotions or huge... — read more
Seagate is a very top heavy company. Seems like everyone is either a Director, Senior Director, Executive Director or VP. These fat cats get huge pay checks and bonuses and produce very little. Time to cut out the fat. Seagate used to be focused on... — read more
I noticed a post today about Springtown which has been removed twice , why was this ? I think the post is only pointing out that Operators there are unhappy about their pay rate & conditions.. Looks like they want a Union in to fight for them &... — read more
I've been here for three years and I'm debating whether to leave already, because I feel that I'm stagnating. Given that I am not progressing, nor does this job offer me anything new to learn, I think there is no other solution but to look for new... — read more
Honestly, does anyone expect anything to improve here, or has everyone already lost hope? I don't know anyone who isn't looking for something else.
Years ago, Seagate was a company that was dedicated to its employees, but now it seems like those on top are doing everything they can to turn us against one another. The company has been struggling lately, but this is not just about financials... — read more
Potential month/day? Is it cancelled for next QTR due to improved outlook?
Heard the package has been cut to 12 months in SG. That's something definitely will not help the morale. The longer you have worked, the less severance package you will get when it comes. Your loyalty does not really mean anything here.
I don't know why anyone would think that this company is interested in our opinion and our feedback. Surveys are a big waste of time. They are waste because they do not bring any change. At least I don't remember that they ever produced any changes... — read more
Anyone can confirm this? Nov RIF is capped at 18mon, which is huge reduction from previous CAP of 30mon.
There is no pulse... He's dead, Jim.
Seems like seagate is going to cur everyone's salary by 10% from 1st of January They had done something similar about 7-8 years ago
STX has no qualm to spurge on IT security but cannot afford to retain it's physical assets. Every now and then IT endlessly upgrade security to the point that they are willing to compromise business in exchange for a great superfluous IT security... — read more
Share any updates you may have about Seagate Technology layoffs? Any chatter, news or rumors?
Trendfocus is expecting calendar 2022 unit ships to be down 34 percent over 2021 across the industry. They expect units could rise in Q2 2023 and cites STX specifically needing to improve production quality... Lagging way behind competition Are... — read more
Organizations perform exactly the way they are built. Seagate executive management has performed exceptionally poor over the last 3-5 years, amazing that they haven't gone chapter 11 or been acquired prior to this date. How could an industry leader... — read more
In case you were wondering, more RIFs are coming. I know because I am on the planning team. I keep asking that we could offer an official volunteer separation option but my peers are not in agreement yet. So, let me share a secret... — read more
They just sent out the official notice that the wafer South construction project at NRM has been paused until spring 2023. Seagate already spent somewhere around $60+million on the construction project, plus more for the tools that were ordered...I... — read more
At the executive level almost 20% of VPs were impacted. At least this is what our SVP told us.
With the extreme cash crunch, that stx is currently facing .. one of the things that is being discussed at the upper echelons is .. reducing the severance package for the next layoff (if the next quarter numbers are not good) Seagate typically gave a... — read more
I've survived about 15 layoffs now. I've outlasted multiple entire management chains above me who are all gone. The vast majority of people I worked for and was lorded over by are gone. Most by layoff. The vast majority of people I worked with are... — read more
The company really went downhill the last 5 years and seems like every decision the CEO has made has been wrong, every direct hire bad. This can't be right, what have been good decisions?
This will get revenue back on track. How many millions did Seagate pay for this? Is this how executive spend their time looking for opportunities to fix the business?
Be prepared for another 3000 layoff next year 2023 due to low demand and economic recession
Even if you're one of the many who are losing their job, there's no reason to panic. You can always find other work — and it will be better than what you're doing now. After everything this place put us through, how can it not be? Just remember... — read more
Next is bankruptcy. Look at the financial statements, debt of $600M is coming due, suppliers are being paid at over 100 days from being invoiced, the company is looking to do leasebacks on its real estate for a quick infusion to pay the next few... — read more
Must be tough time ahead for stx. Time has changed. Feel bad to see a tech company struggling to adapt. https://www.bizjournals.com/denver/news/2022/11/10/seagate-data-storage-campus-sale-denver-metro-area.html
Has anybody received their package docs through email yet I was told this week.
morning email says majority US layoffs concluded. means not all. so next round is expected ? when any idea?
It's no consolation to those who are affected, but in any case I think it's better to be cut now than to wait in uncertainty for another wave. It's not a good time to lose a job, but I believe that many will get a new and better offer faster than... — read more
No Names, only Titles. Who is gone?