Just read in the news about Boeing, a company a year ago had 100B revenue and 10B profit. It offers its employees volunteer early retirement with 1 week per year up to max of 26 years+few months (2 or 3) of health insurance. This is volunteer package. I'm certain if laid off, it would be less.
So far, STX is extremely generous with its package. It would be interesting to see if they will "modify" in future RIF.
STX is a grood company. Be grateful you still work there. Or had worked there.
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I think the experience a person has (good/bad) depends in which department you work.
I've heard horror stories involving continuous verbal abuse by other employees and management in many departments, an employee being referred to as a certain animal when eating a piece of fruit, title changes (demotions) and and an employee, who is not in HR, doing background checks on other employees and sharing that information to others at work.
Whether or not upper management is aware not sure. If what I heard is true no one should have to put up with that. There are better companies out there for the people who are on the receiving end of this behavior and hopefully they've found better jobs or at least contacted a lawyer.
Seagate treats the majority of its employees like dirt.Ive witnessed it first hand as have many others.Seagate is not the cosy,friendly,fair company it tries to portray.
It's true that the work environment at stx ain't positive due to constant laid off. The 10+ years I was there, I can't recall any year with no layoffs. Sometimes, twice per year.
In term of upper management short term or long term strategy, I don't know for sure. They may see more debilitating business condition than us, worker bees. One thing I clearly see is that they are desperately trying to hire young people to replace the more expensive older group. Problem is the hard drive is a sophisticated beast. It takes a long time to gain knowledge.
Stx is a good company. As a worker bee, I'd met great experienced engineers there and learned a lot from them. The experience I gained there allows me to bring great values to next employer. I always disregard upper management. They are typical human beings. They look out for their own pockets first. BTW, it's true with any other company you work for. It's human greed. The decision senior management makes, no one below the rank has any control. No division VP has the cahones to stand up to senior management when given layoff quota because they have their own financial to protect as well. Again, greed.
Stx as a whole is a great company to work for if you can tune out upper management. There are great experience people there that are willing to teach. When it is time to part ways, they give a very substantial financial and career support. Can't not say anything bad about them. They have a business to run, they run it however they see fit. My job, when I was there, was a great and fun experience.
Except some companies may ride out a quarter or two or three of not great results before resorting to layoffs. I can't recall a sub-par quarter where substantial layoffs didn't occur almost immediately over my 25 years, especially since Mosely took charge, sometimes even before the results materialize.
That's a fine strategy when it comes to managing costs and staying as profitable as possible, but it doesn't create a positive work environment to be looking over your shoulder all the time. Employees are people with their own concerns who can't ever entirely block-out that they may be shown the door at any moment. We aren't robots.
There's long-term vs short-term. Always hitting the layoff button as soon as things go the smallest bit south is a good short-term strategy, but you do lose experience, efficiency, and intellectual capital that has to be replaced somehow. Given how things have gone the past 8-10 years with layoffs pretty much every year, the amount of "dead-wood" and liability is getting in pretty short supply.
"There are worse and there are better companies. Just never buy into the fact that you're valued as an employee beyond how much you cost and how much value you provide. You're just a figure on a ledger."
==> Show me a company that does not look at its employees by the number? Companies always give lips service on "people's value", while behind workers back, they do all sort of labor cost analysis. Their only goal is maximum profit. If they don't do it, it's negligence of duties.
==> Businesses exist to make money, it's the main objective. When an employee does not provide value, it's a deadwood & a liability.
Common man - get real. Stop dreaming, get back to real world and do real work.
In case of STX, it is no difference than any others in the industry. However, it is very generous when it's time to part ways.
This is from an ex that got RIFed but no ax to grind. In fact very appreciated benefits provided on the way out.
They are pretty generous with the severance. The problem has always been that they lay people off at the slightest ill-wind in market conditions.
The second sentence pretty well obliterates the first when it comes to being a "good company to work for."
There are worse and there are better companies. Just never buy into the fact that you're valued as an employee beyond how much you cost and how much value you provide. You're just a figure on a ledger.