News circulating around SSDC that upcoming RIF will be pushed out till July 23.
13 replies (most recent on top)
RIF on Sunday?
Why need to delay until to July 23rd?
SSD processes information faster than HDD. Why lay-off delayed? Just kidding while looking at the ticking clock. :)
SSDC
https://www.straitstimes.com/business/companies-markets/seagates-new-design-centre-to-focus-on-making-new-age-storage-devices
SSDC is in malaysia
Whoever governs stx must have that iron in him. Or give it up. This is not a game of cards can keep changing the date..LoL
SSDC folks continue with honeymoon till then...
This not a game of cards? Can postponed suka-suka
Chill guys. SSDC is in Singapore. SGP layoffs been postponed to July guys.
If you don't know where SSDC is you don't work here.
I would agree they at least have to announce and start executing the RIFs before the new FY. Not sure how much has to be "substantially completed" however.
Or, well, just issue a new 8K and revise the previous announcement....shrug...
- from the 8k---
Item 2.05 Costs Associated with Exit or Disposal Activities.
On April 20, 2023, the Company’s Board of Directors approved and committed to a restructuring plan (the “Plan”) to reduce its cost structure in response to
changes in macroeconomic and business conditions. The Plan is intended to align the Company’s operational needs with the near-term demand environment while
continuing to support the long-term business strategy.
The Plan, which the Company expects to be substantially completed by the end of the fiscal fourth quarter 2023, is expected to result in total pre-tax charges
of approximately $150 million. The charges are expected to be primarily cash-based and consist of employee severance and other one-time termination benefits.
@tge+1mDHbXnB, SSDC st Papua New Guinea
This doesn't make any financial sense given that July is a new fiscal year and this rif has to be completed by end of q4. Provide some additional context please?
SSDC is where?