Make a prediction and tell us what you think about Seagate Technology Layoffs 2021? Any news or rumors?
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@sglh Why bother trying to sublet NRM office space? There's a lot of empty offices across of 77th street.
close FRE
money pit ...
They're trying to sublet office space at NRM .
Any news when Shakopee will start round 2 in 2021? The sale of the property was supposed to finance the move for some of those left to Normandale. Now that the buyer backed out Seagate will probably use it's best lever to control profitability; it's people.
That's business excellence.
If there are no layoffs, the business excellence group won't get a bonus.
Offer all of us a VEEP and see what happens.
Singapore to close down ?
You think pysops works for hedge funds and institutional shareholders, no. Not enough individual investors to care about their opinion. Seagate lays people off because we have poor margins, slowing demand and too much fat like the whole business excellence org.
It's simple, they layoff people just prior to quarter-end, take the big "special expenses" write-off in a quarter that was going to be bad anyways so the expense sheet looks much better the following quarter. Yes, it washes out over the year, but it's a psy-ops on shareholder perceptions.
I'm not saying that will happen now. This site has been right ~20% of the time. But that's the logic over the past 10-15 years.
Last week was big meeting, one more layoff cycle will being squeezed in for engg before Christmas.
No "big" meetings during COVID unless you think normal CEO staff meetings are "big" and not monthly. But I bet you think Trump has big hands too? Funny how your mind doesn't understand how a company works. What is the benefit of laying off people before Christmas? We are an accrual-based company, our year-end is the end of June, not the calendar year. If we needed cost reductions for end of year tax savings we would have mass terminations FYQ4, not CYQ4. Instead of gossiping on here why don't you ask your director about the company's direction. I dare your coward a– to ask these types of questions at the all-hands meetings.
A) We haven't had a furlough for years.
B) Better margins from HAMR can save the company.
C) Let Seagate burn, join another company or remained glued to this sad site and wait.
Happy Hanukkah!
The increased the dividend and had a revenue miss last quarter. The math says expenses need to be cut to keep EPS up. How do you think they accomplish that?
They could sell more disk drives, but that seems unlikely in this Covid climate. Anything is possible, but I can't see it.
They've done a pre-furlough layoff before.
Layoffs seem to be the only way the company grows EPS these days. If revenue actually starts increasing they they will probably be paused. It's all about the share price with this company and everything else is low priority.
Best thing ever happened for me when I was cut during the pandemic!!!
Many many thanks to the dude who blocked my xfer then cut me off. No worries. Be prepared.
Look out for your skills first.
Slow paper cut lay offs.