Seagate's current approach has been to do a pay cut regardless of performance, based on level (effecting higher level employees), in the hopes that a smaller layoff could result. I think it's time Seagate change strategy and cut low performers and reward the few employees who are carrying the company. I think a deeper cut will ultimately be required based on market outlook in 2024, and the only way Seagate survives this is to retain high performers (which requires $$$).
Spreading the financial burden through evenly distributed pay cuts has resulted in attrition of key contributors.