Is this going to be an interesting year as it relates to Seagate Technology Layoffs 2020? Any news or rumors?
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It's an exebyte growth story. No one said we need employees to grow. Automation is coming for everyone. Run!
All employees in Dot-hill division lose jobs by March 2020
Look at restructuring costs each q in the financials. Stx has been paying tens of millions in severance every quarter eliminating 15,000 jobs since 2016. No rumors just facts.
The company will continue to shrink. Not a growth story like execs pretend.
You can back track 2016. News/rumor have started since then.
Last 12 months revenue now below 10b for first time in 10 years, gross margin down 5 points since last year, SSD and systems loses money, dividend increases in January, management is at least 50 percent top heavy, hamr will not be profitable for many years, notebook and mission critical will go to near zero in the next few years, multi actuator is going nowhere. Company is not sized to be one product company, high cap cloud. IT 4.0 is a smoke screen for management to try to create hope to the wanna believers but HDD will not have a seat at the table 10 years from now when IT 4.0 takes off.
Not rumor, revenue dropping. Has been for years.