Has the next layoff been scheduled yet? With the economic outlook looking bleak I figured Seagate would be early with them.
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Definitely a layoff in September I heard from someone very high up.
So when the employees transfer to Broadcom and then they layoff..wouldn’t they loose all the severance bcoz Broadcom doesn’t have to honor the years of service of Seagate.
Now the layoff will be done by Broadcom not Seagate. When Broadcom does layoff it will be ruthless
It could be that we were so deep into debt with Broadcom with unpaid bills, it made sense to simply cover the debt by turning over the whole VLSI operation.
Is it a fu-k up that is covered as a divesting ? Did they file a patent violation or law suit ?
Looks like all those past layoffs cumulated in a profit from even less revenue the company had when it took a loss. Now selling the ASIC/SoC group to Broadcom for 600 million? For that price, it must be the whole darn department getting sold off and all IP. I guess that's it for vertical integration. The entire driver for profit growth is 100% cost cutting more than the sales revenue is falling. Although revenue growth has actually been forecast for next quarter, it would seem very tempting to jack up an earnings spike and fund a weak bonus/raise with another moderate layoff sometime this summer. Brace for another 2-5% firing folks. We're in full on cannibal mode.
Golden days ahead. Couple of Longmont Millionaires in making
https://wccftech.com/ssd-hdd-prices-skyrocket-seagate-western-digital-increased-demand/?fbclid=IwZXh0bgNhZW0BMQABHTImhJR4vJiKsdmWmZzS5yddsM93cemn1aVfcQulzJrkqlUZcNq_OgQKXA_aem_AVc3b0ffZr4DexK-Plk-bV3QHI_V-ZTtgZ-xaPIjuAX5W09oVJ2UCKHDAp0z8aGb1Zc
Probably end June or early July for this round.
Looks like we sold 500million heads to Broadcom
How many heads from the SoC group were sold to Broadcom?
Dividends are not considered an expense of doing business. Q3 results GAAP = $0.12 per share. Dividend = $0.70 per share. Don't worry our company's DEI / ESG values and initiatives ensures that Blackrock, Vanguard, JPMorgan, State Street are happy to keep sinking cash when requested for greater company debt.
Earnings report out today, should be a good indicator on the timeline for RIF
I received a "Colorado Cyclist Closing Sale" email in my inbox today. Bummer. I used to love getting their magazine in the mail. Ride the Rockies is cancelled as well, due to a "lack of interest". You LCO Freds need to step up your game. Or, maybe people are starting to realize they need to hold onto that $ as if it's their last paycheck for awhile? Like EVERYTHING in that last 4 years; cycling related prices have skyrocketed due to awful virus policy, awful foreign policy, and corporate criminals. You all voted for this. Congratulations. Everything will crash. I can't wait.
Anybody have a $10K gravel bike they need to dump? I'll give you a dollar for it.
Fake news. Just heard that 1billion drive order has been placed by big tech