The sounds of dead wood will soon be heard in MN. Free, cheap money is no more and so is the ability to keep inefficient, overpaid fan boys of management. Need people who can actually do something productive and not just parrot their management's latest fad. Hopefully - you've prepared - should of with all that time sitting around.
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They need to can the CTO, VP BE and VP R&D. They've spent the company resources on bad bets including HAMR and dual act which at best will break even. It's time for regime change.
Any word on Shakopee? They spent a year trying to sell the place and now it's in limbo. Man, it's turned into a ghost town.
When you have to cut deep, the layers of corporate bureaucracy are prime areas for harvesting monetary savings. The top wants to save themselves and will have no qualms parting with their 'YES' men. At times like these - only those at the very top are untouchable and those who can actually positively affect revenue stream.
There seems to be a willingness to bet on Seagate making the right choices in who they cut. Not sure where that comes from, have things really changed that much?
I concur with most of the comments made here. I think the difference this time is that monetary policy changes have significantly reduced the liquidity of the money supply. No easy money means those middle management lap dogs who exist to stroke the egos of upper management are fair game as the money supply dries up. There are consequences for your actions (or in this case inactions) and making a career of being a 'YES' man rather than a real contributor are at hand.
1idn+1ivsGOgX said it best.
That folks, is business excellence...
It is sad how Seagate continues to down size.
That would be a change from the past. Seagate usually lays off the contributing skilled productive workers and keeps all those high paid manager types that re-arrange blocks of text on status documents and presentations for a living. That's why there's such an excess of people who's main work is to repackage info and status on others work progress and present it to others. The presentations are very organized and nice. Don't get me wrong. But status reporting up and across the chain has become an industry here.
- 50 way to go!!!!
Here and there.