Thread regarding Seagate Technology Inc. layoffs

Anymore update on next layoff?

As we are getting closer to September, does anyone has any information on the next possible layoff? Which area, which department or anything?

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Post ID: @OP+16apoijw

19 replies (most recent on top)

None for the next few quarters atleast

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Post ID: @irhe+16apoijw

FRE we are seeing the writings on the walls.... lesser meetings.. lesser updates...

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Post ID: @hjfq+16apoijw

Okay, this is from an ex-employee with no grudge. I was let go after 13 year in the immigration area. It's all a numbers game And the group that can provide the most in this arena. I loved supporting Seagate's foreign national national population . You are supported. The company would not pay to support those employees not not included on the future. You are.

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Post ID: @6ujr+16apoijw

Low level managers are told squat about what is happening. It's not that they lie to their direct reports, they are in the dark from what is happening in upper mgmt.

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Post ID: @6kkk+16apoijw

"Still thinking how much HDD will get impacted as now it's the main business. "

I always thought that HDD's were the only business, not the main business. Everything else management has tried have been nothing more than rounding errors.

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Post ID: @4mwo+16apoijw

Still thinking how much HDD will get impacted as now it's the main business. Managers never accept that there is a possibility for layoff. They act unaware of all such roumors and will manipulate you to believe that too. So be prepared for the worst while hoping for the best.

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Post ID: @4gzc+16apoijw

My manager was the biggest liar I've ever met in my life. I was honest with her and she riffed me almost immediately

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Post ID: @3bms+16apoijw

Seagate has had negative revenue for the last five years and at a negative 5% cagr. Part of it is luczo put an incompetent CEO in place, he k–led the SSD division, mishandled the systems business, screwed up on getting hamr to market on time, second or third to market in cloud, and keeps a number of incompetent staff members on the payroll because he's known them a long time. So covid only made more visible the problems at Seagate and they are showing up faster now in the revenue forecast. This quarter is expected to be at 2.1+ billion which is the guidance to the street. That's a 15% decrease from last year at annual runrate.

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Post ID: @3fog+16apoijw

Not all managers lie. Mine is as honest as they can be and not just to me but to all their directs.

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Post ID: @3huo+16apoijw

Is the only expected layoff due to COVID? Or was Seagate already going through a rough patch and COVID made it slightly worse?

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Post ID: @3ndt+16apoijw

Managers lie. They deny any roumors about layoff. But it seems inevitable at this point.

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Post ID: @3owr+16apoijw

Well, the question can always be posed in an open meeting!

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Post ID: @2rqi+16apoijw

Because our managers lie and honest conversation is held against the employee. We cannot talk with them.

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Post ID: @2nef+16apoijw

Seriously. Why don't employees just talk to the management instead of speculating here?

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Post ID: @2aeb+16apoijw

Doomed. DOOMED I tell you. Might as well give up now and throw your hands up.

Seriously though, how do you expect anyone to know?

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Post ID: @2obj+16apoijw

Expect at least 3 quarters of negative profit ahead while still paying dividend. Cuts will have to be deep. Time to exit ssdc, dot hill but that's all that is left for big cuts. Maybe time to axe CEO cronies like SVP business excellence to save millions. Stx will pace to $8b of revenue in fy2021. Without cash to buyback stock to keep stock price high it will be interesting to see how low price will go.

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Post ID: @2xbx+16apoijw

Profit of 2.1 million for Q3

Many arses getting whopped

How many quarters of negative revenue are we going to see

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Post ID: @2end+16apoijw

This isn't a joke. Please don't spread rumors.

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Post ID: @gbm+16apoijw

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