Things are going well when a company sells it's silicon valley headquarters. How many of the Cupertino job will disappear?
https://www.bizjournals.com/sanjose/news/2019/09/11/seagate-sells-100-million-office-in-cupertino.html
18 replies (most recent on top)
SSD is going away. Execs did not talk about SSD or systems at investor day yesterday. WD just sold it's systems business. Stx is and will only be an HDD company.
Once SSD and systems are gone, SHK will close and it will just be LCO.
Shakopee is still open and actively developing HDD and SDD...for now. LCO is full. So, where are we going to go? You going to get rid of Seagate SSD? Are you going to get rid of all the SAS and NVMe firmware developers too? Sure, sounds like a great plan. How about Seagate research? Get rid of all of it or where are we going then? Not like I care, but you people don't no Jack about the company it seems.
do we need a design center in asia? think about that
Shakopee is still open? I thought they transferred product development to Longmont years ago.
And e) HDD is going extinct and need to resize to be a 3 to 5b revenue company and compete with tape.
Ever think they don't need cash they are just being practical? We had almost 100k employees once, now half our gone because a) robots b) iphone invented c) people are smarter and d) Watkins is gone. Seagate is doing what it should have done in 2000's. Stop crying and be excited unless you're job is threatened by robots or you're dumber than Siri.
3qtp: actually its just the opposite; 100M is a pittance, but they still need to sell the headquarters to raise cash. Not good...
100M is cheap to Seagate. No need to even worth mentioning on the issue.
1vso
Sorry, I'm fine where I'm at (not a design center.) Sorry that you are I guess.
Just in!!! All sites moving to FRC. 40k employees in one building.
Is Shakopee still open? If so, close it. Will Fremont still be a design center after cup move?
So which design center closes first?
Guess what else is logical for a shrinking company? Not 3 design centers full of duplicate jobs like yours we need to get rid of. Give us a little time to digest this one first and we will again focus on people.
Geez, anything to rag on STX about I guess. Why weren't you guys ever ragging about two half occupied buildings within commuting distance? This was a logical and inevitable move.
An svp tried to spin it that they are moving to Fremont because it has renewable energy not because Cupertino is half full due to all the layoffs and stx needs the cash
wheres all those who said we’d never do it? We buy and sell you little people like pets. Oh what a juicy bonus set up for next year too. Focus on people for pump n dump
Special dividend to investors!
Hey, more money to fund executive bonuses!