As of 11/6/19, Sanmina is processing a global RIF, as signaled by their last earnings report message that the company is to be "right-sized". This company has clearly lost its direction, as evidenced by example that they have their fourth CEO now in less than three years. Terrible what's happened to what used to be a great company.
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Correction on "fourth CEO now in less than three years". Last Sanmina CEO, Harmut Liebel, was fired mid-August (https://www.marketwatch.com/story/sanmina-ceo-liebel-leaves-company-after-less-than-11-months-in-the-role-2020-08-17). Eleven months!!!
So...the CEO-revolving-door-count over the last 3+ years is now FIVE! Holy c-ap, what is going on with this once great company. Just plain sad.
Problem is culture is so negatively permeated, all of the EVPs are tainted and making terrible decisions. That includes every EVP over Ops, Supply Chain, Sales, etc. All should go and give Sanmina the best chance at recovering.
Mass layoffs yesterday, unannounced and immediate.