Do you think it is a good signal?
You people can whine here about how FUBAR Seagate is or get off your backsides and get a job in a better company. Hard drive market share is rapidly declining, and isn't coming back. Care to guess how that will impact Seagate and Western Digital? "I'm waiting for the severance package" is just an excuse for inaction.
Really? I haven't seen anyone "riding it out." You do lose about 5-10% productivity when the rumor mill starts, yet again. When you get within 2 weeks of when the bomb drops, things slow down even more.
In IT, starting with 2012, there were significant lay-offs in all but two years. Tell me how productive things will be this July when 6 out of the last 8 years there have been lay-offs nearly every spring-summer.
This is why there is a need to downsize. A large part of the workforce is just waiting it out ....for a package. It’s a burden on the company, and then the rest complain about layoffs. Why don’t people call out their neighbors and peers who are just floating and show them the door? They are the ones crippling the company, not the ones trying to turn it around every day.
All of these people who say "Get a job at a better company" like it's just no big deal are delusional. Talk to some of the people who have left, it's not all that great out there.
Well, I'm honestly surprised the company has lasted into 2020 without more cuts. In 2015 I was sure I had less than 5 years to go and my site would have been shut down before 2020, but decided I would ride it out. I'm thinking now I still have another 3-5 to go while it plays out. I've heard one favored design center is packed full, so before mine is shut there has to be drastic cuts just to make room for consolidation. Honestly, from the sheer number of people walking around that don't really have any return on investment, it would be healthy to do a major downsize.
The next 3 to 5 years will be painful for Seagate. Preaching HAMR to "the Street" only to be a money loser for the company due to higher bill of materials cost and poor yields until breakeven at 32tb while notebook and mission critical will be gone markets. Even while suffering losses it needs to increase its dividend so cost cutting is needed. It already sold its headquarters so it is all about closing design centers, ending SSD and systems, and layoff older more expensive staff. At some point the attractive severance package has to go bye bye like it did for IBM and other companies. Feeling lucky and have 20 year tenure, maybe stay. More than 5 years to retirement, leave because life is too short. Plus, HDD will only be niche in 2025.
I'm in a different company. Have ridden through 4 layoffs. Stuff was brutal, seen what you've described and we would say that you're going through the lean process. Expect to take on more "responsibility" without much of a pay increase if you avoid the chopping block. Admittedly, I've gained a sh– ton more knowledge and power in my career, but not much more pay. Honestly, you may be better off if you can find a better offer elsewhere (with exception of if you're almost to retirement). It all really depends on what you want man. If you want to go up the chain this is an excellent time to grit your teeth and and ride the s—.
Depending on years doing storage, “waiting for severance package” can be a good plan as well.
If you are 20 years in the field, it’s wiser to wait. If you are in for 2 years, look elsewhere should be a clear move.