Thread regarding Seagate Technology Inc. layoffs

$63m spent on RIFs Last Quarter

HR and Executive trolls come on this site and post that there are no RIFs and nothing to worry about. Look at the recently posted financials where STX is down to 40k employees and spent 63m primarily on workforce reduction as part of restructuring. The CEO and CFO did not hide this fact on the earnings call and indicated further drops in Op Ex to happen. Brace yourself as sub $10b revenue requires more major cuts to keep up margins and pay the dividend.

by
| 2077 views | |
Post ID: @10nct402

8 replies (most recent on top)

Sure, tell us how STST's IT department is growing too, why don't you...such obvious PR fluff

by
|
Post ID: @10nct402-8ywy

LOL, I can't count the number of times on both hands when NRM was rumored to be shut down sonny.

by
|
Post ID: @10nct402-8uts

Springtown is just replacing attrition or preparing to close normandale. It is not growing.

by
|
Post ID: @10nct402-7ata

Seagate Springtown continues to hire more people in all areas.Our workforce is growing steadily and we are continually getting busier.In saying that,it is very top heavy in management numbers.

by
|
Post ID: @10nct402-7yav

Fake news that stx is doing layoffs, though my colleagues have been suddenly disappearing. Hmmmm .... Connected?

by
|
Post ID: @10nct402-2gzq

I think when the CEO said 30k employees he was thinking automation, now it is just survival of the company and preserving the dividend.

by
|
Post ID: @10nct402-1aov

When DM took over he said he wanted 30k employees. Automation is here.

by
|
Post ID: @10nct402-1ldq

All true numbers. We are not waiting for a RIF it has been happening weekly in smaller numbers to not trigger WARN act, negative press, and spook remaining employees. The data in supplement proves what people have been saying here for the last year.

by
|
Post ID: @10nct402-doi

Post a reply

: