Now that the Severance Package policy has disappeared from the internal web site any thoughts on what the new one will be? Capped at one month like IBM?
12 replies (most recent on top)
The people who staying wth this sinking ship and fighting for its survival will get less and less for their retirement ? Seagate way ?
Ouch, 2 weeks per year of service, that’s painful, well worth to have gotten it when it is 1 month per year of service.
Depends on the Plant you work at. At our plant it’s mostly been the new Eng’s and the very high level Eng’s that have been getting packages. Our new Eng’s have been Laying Off Seagate at a shocking rate lately. Keep Your Head Down and Go Yikes!!!
Unless the "deadwood" posters here are fresh meat, you can rest assured that the new grads on the job also already view YOU as old and outdated wastes of space who should be gotten rid of to make way for the enlightened new talent coming on. Do them a favor and get out of the way with your 5 year old obsolete degrees where you learned that ancient outdated c––p. And if you are a true newbie then rest assured that you know pretty close to nothing about the all technology to create the products yet and you couldn't fill the shoes of a single operator anywhere in the company with competence at your level of expertise.
Cap at 15 month maximum for SSDC side. Its 2 weeks for each year of service...good stuffs...
@1ely I'd turn it around. The technology is moribund, and there isn't much blood to be squeezed out of this turnip. Those with key skills who have been around forever aren't needed, not because they're old, but they're expensive couldn't drive things forward anyway. Might as well hire young kids with great credentials because they're cheaper and keep the wheels rolling as HDD's fade away.
Yes skills are key to retain - do Seagate long timers have any left ? And any relevant?
Yes money needs to be used for talent - not to retain deadwood, but to attract industry’s best and brightest
Long timers ? - need to be gone. Young blood from schools with energy and ideas need to replace the ‘hangers’
It sounds like something you do before you remove a large quantity of senior staff members. Suggests a big layoff later in the year.
Seagate HR may want to remove head from bottom and figure out what's going on right now in the labor market before they do something d–b. There's a talent labor shortage and companies are increasing wages and doing massive across the board raises to retain talent. This is not the time to be cutting stuff. There is a massive wage inflation wave coming as the 10 trillion in stimulus meets reopening pent up surge in economic activity. Cutting compensation is the most backward thinking opposite world action right now. I'm getting weekly emails from major company HR departments begging me to apply. They are throwing money around like crazy now. Things have changed and it's just started. Seagate can't keep up with the dynamics going on. Not smart.
Yeah, seems like Caps are going to be introduced. Not as bad as 1-month IBM, but not as good as what it was before
I never realized they had an official severance package policy stated on their website. But I guess it doesn't matter. This current management structure have made it clear they do not value experience and seniority.
That's not a good sign. Hope all the dead wood did some serious squirreling away of $ - cause your brown nose skills won't translate to other opportunities outside of the this company.