Rumours that there's going to be a 1 off payment of 3% of annual salary made to employees as a sign of appreciation for continuing to work through the covid 19 crisis.
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Investors>Employees. The Seagate way.
Seagate does have a fiduciary responsibility to its investors. But its board is notorious for short term thinking. Dividends are what keeps its stock price afloat in the face of declining revenues.
They could fund it by suspending the dividend for awhile. Oh wait.....that would make too much sense.
That would be quite a shock if something nice was done like that since I’d expect a 10% pay cut as thanks like in 2009
That's a week and a half of salary. Just be mindful that will probably reduce year end bonuses by an offset amount. That money isn't coming from nowhere.
Seagate has been laying off people and still doing ye bonuses since 2010. The two have had little correlation for some time.
This seems inconsistent with all of the layoff talk.