However, that may not stop the lay offs. Look at the earning number and guidance. Need to raise more money by selling bonds to pay for employees.
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Never gonna happen?
WD saw themselves getting bent over the table and cancelled the dividend. Wonder when STX will do the same.
Cut the dividend?
The dividend will be protected at all costs. There is still a lot of cutting opportunities before thinking about the dividend. Such as cutting
Hundreds of millions of dollars in pet projects
Ceo's beloved SVP of business excellence
Positions such as chief of staff that every senior person has.
Bloated CEO direct reports
Just wondering how do they pay employees with this profit. Seagate already has huge debt, just wondering they raise more money by issuing new shares? Or lay off?
Employees have always been the last thing Seagate thinks about. They are expendable.
I think that's the last thing that would happen. Cutting the dividend is a sure way for the stock price to plummet, and the executives aren't going to see their compensation go up in smoke.