Thread regarding Seagate Technology Inc. layoffs

I have NEVER worked somewhere for this long and NOT gotten a promotion. I know, I know, go somewhere else. Love the people, hate the management. Can anyone else relate?

@6xyx+1sS21AjM 😆😆😆😆

Total useless and wrong posts before. Many at LCO feel valued and appreciated. We roam around with Seagate branding everywhere to thank the company

Blessed

"yeah, f this place"

Imagine how good it would feel to follow through on that sentiment and just walk... I love daydreaming about this between compiles. Keeps me going in this downward spiral of terrible policy.

Come on now. You are supposed to tie your feeling of success to watching the CEO “team” rake in untold millions. And making the top shareholders even more wealthy is supposed to be your reward enough. Kind of like watching your football team score and win the game. You get nothing but are oh so happy that you scream with joy. Just to be a fan of the wining team for free is supposed to be your primary reward. I stopped watching pro sports like 15 years ago myself.

Seagate financials show RSU awards as ever increasing. Unfortunately only Sr Staff and above will see them - and only those that meet the ~15% performance quota - or more likely did something cool many years ago and have managed to remain a manager favorite since while others pick up the work. An expressed smugness among those having received them is definitely classless - but also speaks volumes about a Seagate culture originating from a 90’s following of Jack Welch - an extremely narcissistic workplace. I don’t expect pay to match inflation if we haven’t been making money. I don’t expect promotions for everyone either. It would be nice - but I like to think I’m not the entitled type. However - HAMR was a lot of work for everyone for a lot of years and now watching only a very small % actually benefit and benefit greatly while others have either been laid off, disenfranchised with flat pay or given a Spark reward for their 2nd place on the podium - yeah, f this place.

@5ufu+1sS21AjM we know RSUs are illiquid until sold, we know the stock price fluctuate, and we know we are taxed as they vest, so this primarily a way for the company to avoid the fixed costs of larger increases and feed the the dividend. Let's try using our RSUs at the grocery store 😂😂

"Financial Constraints: HR's efforts for more substantial rewards are perceived as being stymied by financial constraints, leading to disappointment among employees expecting better compensation. "

Perceived? It's a FACT jack! Was the dividend EVER scaled down in any financial crisis the last four years? It was NOT. The company values shareholders over employees every day of the week.

Mmm, my manager said the RSU given last year is equivalent to 10% increment per month for the next 4 years. Well, I acknowledged that. So why complain about the raise? And the stock price is still going up.

The post discusses employee concerns about raises and promotions at their company, with many expressing dissatisfaction and skepticism. Here's a summary:

Lack of Raises and Promotions: Employees have voiced frustration over the lack of raises and promotions, with some noting minimal salary increases over several years.

Management's View: Upper management has highlighted financial success in company meetings, but employees feel this hasn't translated into better compensation for them.

Speculated Criteria for Raises: There's speculation that only certain performance levels (P1-P3) might receive raises or promotions, while longer-tenured employees may be overlooked in favor of cost-saving measures.

Employee Sentiments: Many employees feel undervalued and unappreciated, particularly in light of inflation and the perceived disparity between executive compensation and employee rewards.

Reaction to "Spark" Rewards: Some employees have criticized the company's token rewards, like Spark emails or small gifts, as inadequate and insulting.

Impact on Retention: The lack of competitive compensation and recognition is seen as contributing to employee turnover, especially among newer hires who feel they have better opportunities elsewhere.

Financial Constraints: HR's efforts for more substantial rewards are perceived as being stymied by financial constraints, leading to disappointment among employees expecting better compensation.

Overall, the sentiment among employees is one of disillusionment and frustration with the company's compensation practices.

if you're <50 waiting for this place to change is false hope, so assess your career

Cost of living increase 20%. Seagate raises - zero. https://x.com/mylordbebo/status/1799525065169551751?s=51

HR talked about healing but I’m sure they don’t mean compensating for inflation the last 3 years of 15%. Due to this we are getting compensated 15% less in real terms. That is crazy! Heal that!

All the high performers are in LCO

They perform so well…zeroooo work

@3jsf+1sS21AjM perhaps you're posting in the wrong forum, this is Seagate 😂😂

I was promoted back in March and I saw multiple other high performers receive promotions in March

My reward as a professional working for a billion dollar company making money for this company where the CEO makes untold millions an eff en Big Mac meal? It’s beyond cheapskate folks.

deleted mine too, it's a slap in the face for the effort expected and given

"I mean thanks I’ll take it but it made me feel worse about how appreciated I am. "

This is why I deleted mine.

Can’t state enough how terrible the Spark idea is. I honestly would have felt better not being reminded I work for a cheapskate company that takes dumps on employees. I’ve I gave my spouse a free meal at McDonald’s for our anniversary how should she react. Seriously who thought this would be a great idea?

Spark is having the opposite the intended effect. My $20 gift for double digit years of services felt more like an insult than a reward. It would have been better to not send me anything honestly than such a cheap gift that shows it’s not a serious thank you. I mean thanks I’ll take it but it made me feel worse about how appreciated I am.

I'm expecting another worthless Spark email and to be pi---d about it - for like 5 minutes before I take the rest of the week off. Lol - what a he-l hole this place has become. Maxtor ended the same way - execs pillaging the company into the ground while all the talent left.

shouldn't expect much bc new grads and early career retentions are key

Breaking news: VP says pay hike to be "generous". Why do I get the feeling they think a 2% hike is generous after 3 years of ravaging inflation above that? Maybe he's thinking about his own bump.

From LCO..pay increase of 35%

Total TCO - 543K

@xpc+1sS21AjM you must be in LCO 😂😂😂

I work with the global DEI team, and my manager informed me that I will be getting a nice double digit raise this fiscal year 😁 its nice knowing my hard work will finally pay off! Best wishes to all!

New grads shld be given raises bcoz they would leave otherwise. There is absolutely no need to give raise for those who stayed here 10+, because if they r qualified they would get a job else where with decent pay. If they r staying here for so long raises a question ..are others not willing to take them?

do not anticipate much happening because it's going to be a challenge to raise fixed costs when the dividend looms over all else

as for HAMR is 'ki!!'in it," we know HAMR is a long way from being a sizable revenue driver

Another byproduct of giving everything to shareholders and nothing to employees.

The irony is when the company insisted on going new-grad only, they seemed to also drop retention strategy all the way down the ladder. We are now seeing that first wave of new-grads fleeing the company because they are not getting the raises and promotions to retain them. Mosley and Frost seem totally oblivious to the damage they are causing across all ranks.

You’ve been scammed. They are laughing at you. Go talk to a friend who works for a good company. They are way better off than you now. Probably make 50% more. Oh you probably don’t have any friends. Ah well people su-k anyway.

Sounds like possibility of raises, RSUs, 1% promotions, no bonuses, and everything will be small. If I'm reading things right, HR is pushing hard for more but is getting denied based on our financials.

In short, another disappointing year.