Not sure it is true
10 replies (most recent on top)
It’s back on....take care
Massive engineering lay-off being planned. Older plans sc-apped.
10% salary cut and cap severence at 4 weeks pay.
We're all in this together...
That's true. We did get that 10% back. But it was contingent on financial performance. There were no guarantees.
If it happens again there are no guarantees. If they make relatively large cuts as in 2008 and 2009 they will probably be financially ok to do that again if revenues are stable.
But don't count on that happening again. Each crisis us different.
2008 they cut my manager salary by 10% for almost a year. THEN they gave us all back the 10% plus interest, love how you leave that out. The cuts hurt my family but it was better than being laid off and the money back was a great surprise. Post rumors and information on this board, but not lies.
When I worked at Seagate years ago there was a period when salaries were cut 10% but the workload remained the same. Management does what they want to enrich their already abundant bank accounts without any regard to yours.
You're wrong about salaried employees. Happened in 2008-2009. They can cut your hourly rate too unless you have a contract.
It's not true.Will never be true.They cant cut your salary and make you work the same hours.If the sh1t hits the fan they might cut your hours.
That was the 2008-2009 formula. And that was without SSDs breathing down their necks. I'm not expecting a bounce-back like that.
But we had a significant PC/Laptop volume at the time. That's mostly gone away. It all depends on business tech spending. If that doesn't come back and the elusive HAMR stays elusive, it'll be not very good.
You are highly optimistic. I am thinking about 30% lay offs.