Thread regarding Seagate Technology Inc. layoffs

Recession, lay-offs only option going forward

Many tech companies Very slowly realizing now that we are heading to full blown recession and it is not going to be V shaped recovery, it takes many years economy to come back. This quarter many tech cos refused to give guidelines, expect 50-60% revenue down and it will continue until 2024. What’s the solution left for companies when demand going down? Be realistic and plan accordingly. Nobody nobody immune to recession.

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Post ID: @OP+157d9Nhx

19 replies (most recent on top)

If Monday is the day, people might have got calendar invites?

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Post ID: @6yrq+157d9Nhx

My biatch of an SVP laid me off just before Christmas so don't think working remote would stop these people

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Post ID: @6olq+157d9Nhx

It used to be Wednesdays for the most part.

I got hit on a Monday in one of Ravi the Terrible's US IT purges.

I have a hard time believing they'd be laying people off remotely. But then again, my director "invited" me to my lay-off which is a$$-holery to the maximum degree.

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Post ID: @6jms+157d9Nhx

Any idea which orgs will take the biggest hits ?

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Post ID: @6nys+157d9Nhx

Normally during happens on Thursdays, lay offs for sure but not in June. First week of September Likely.

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Post ID: @6ffy+157d9Nhx

how about 47488 Kato ... many d—beats mgmt there... doing nothing n wasting $$$ especiallly the RnD team ...

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Post ID: @5vrn+157d9Nhx

Seems like Monday June 1st is a huge layoff . the buzz is too loud to ignore .. Few hundreds in longmont site and tco is shut down and everybody moving to normandale

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Post ID: @5fjx+157d9Nhx

Selling less.than 30m units at 25 percent margin is below the target and does not support the dividend. This is not a good quarter in the view of execs

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Post ID: @5vcp+157d9Nhx

They are doing it in June due to the fiscal year end. Write off FY 2020 as bad due to Covid, layoff 5000 and pretend it will be better in 2021. Don't worry, the execs will make a ton of money

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Post ID: @5tpt+157d9Nhx

Generally they lay off people in a bad quarter to do all the severance write-offs to make the next quarter look better. Keep on predicting. Eventually you'll be right.

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Post ID: @4xby+157d9Nhx

Can anyone else see the irony of someone logging on and reading a lay-off rumor site and preaching about not posting lay-off rumors?

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Post ID: @4wpt+157d9Nhx

It’s utterly shameful that the management leaks confidential information. What values do you exhibit? And what does this say about the culture ?

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Post ID: @4nhx+157d9Nhx

Are you proud of yourself for leaking the RIF date?

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Post ID: @3flr+157d9Nhx

Agreed. Revenue declining year over year, lay-off will be huge this time. 20% in July to September.

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Post ID: @1tor+157d9Nhx

Thank god for this website and Seagate. Storage is recession proof with all the id–ts posting on here.

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Post ID: @kfa+157d9Nhx

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