Here’s my thought: Seagate has been a lay-off machine at any ill wind. They can do what they want when offering severance. But if they make it too low, people will say “Stuff this, I’ll find a better place that values employees better.” In some ways, it’s an admission of how they handle money problems: Don’t ride it out and hope things get better. Cut costs immediately. And that usually includes a RIF first and foremost.
Their package has historically been relatively generous. This is definitely a signal that those days are probably at an end.
I’m afraid that’s right!