Year over year drops can mean only one thing. LAYOFFS
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Yup. No growth and No growth strategy. Lucky, I sold everything at $75 :)
I hear your mom is still tricking too. What does that have to do with leaving Seagate?
If you can't handle the heat, get out of the fire sonny. I hear Home Depot is hiring.
Revenue was down in FQ2 on a YoY basis, up 2% calendar year over calendar year. The problem is costs are outpacing revenue growth so cuts have to happen. Gross margin is down, a higher dividend is to be paid, and a lot of capex is needed to scale HAMR. Layoffs are inevitable.
https://www.macrotrends.net/stocks/charts/STX/seagate-technology/revenue
Seagate Technology revenue for the quarter ending December 31, 2020 was $2.623B, a 2.71% decline year-over-year.
Seagate Technology revenue for the twelve months ending December 31, 2020 was $10.172B, a 2.15% increase year-over-year.
Seagate Technology annual revenue for 2020 was $10.509B, a 1.15% increase from 2019.
Seagate Technology annual revenue for 2019 was $10.39B, a 7.1% decline from 2018.
Seagate Technology annual revenue for 2018 was $11.184B, a 3.83% increase from 2017.
And here I thought Business Excellence was responsible for layoffs. Silly me!
Isn’t it time to create a new annual I love my CEO company party? An all day zoom with every VP and higher presenting a new reason to love our CEO. Hint hint....fashion leader! Just like Joe gets daily with the news media. One day for the CEO to show our undying love and appreciation seems reasonable! Why are we not demanding it! Yes!
YoY calendar revenue actually increased. Nice try.
I personally think Luczo is doing an amazing job as CEO.
What?? Your argument depends on execs liking bonuses. They hate bonuses and refuse them, diverting the cash to poor black, white, or hispanic cleaning personnel. Everyone knows this.
Not at all, that is not logical. A drop in revenue is actually a preventative for layoffs. How do I calculate that? Simple. Less revenue = less money randomly lying around = less of a tripping hazard in the hallways. Being a litigious bunch, the middle managers would see the reduced danger and worry less about lawsuits from a trip of fall. Thus this would give them less incentive to do a proactive layoff to stanch the tidal wave of spiral-torsion-tibial-lawsuit-inducing-and-costly-to-the-company-such-that-executive-bonuses-might-be-affected fractures. Simple.