Thread regarding Seagate Technology Inc. layoffs

it's pretty clear that no one commenting here is aware of how many layers they keep adding to the wafer build and what that does to required capital in the fabs...these predictions are silly.

If hamr is the future and NRM is expanding for it, I would think Springtown would be unnecessary except for backup. Wafer fabs are too costly just for backup and the STX financials don't support such a luxury.

Agree on point to reduce wafer sites. Keep hammer in one site, reduce capital investment, unless Irish government increases subsidies significantly.

Seagate has reduced number of sites for slider, HGA, HSA, and drive assembly in last 10 years. Is it time to go down to one wafer site based on volume forecast?

They worked all day (nice and sunny) on it in NRM. I was there. I call BS..

Macro economic winds are hurting everyone so none of this News seems surprising. If the economy doesn’t turn around soon she’s going to get real ugly. Do what’s best for you and your family and good luck everyone. Some of our Lost Friends at NRM already finding work!

60mio investment? cough

What “official notice” ? Construction maybe halted due to the cold weather. But unpaid contractors are also in the realm of possibilities, no question…

No more construction until the San Diego Sales Meeting and South Africa Sales trip are paid off. Also, Executives can still travel with no restrictions.

When there is enough smoke there is inevitable bankruptcy.

It's amazing all the folks on here were not ceos of billion dollar companies...great ideas

“You find the money”. Except for when you have already borrowed all you can to buy back stock at prices far above the current price, and you are doing all you can to avoid violating terms of those loans. This borrow to buy back stock strategy looks foolish now. Last quarter alone they bought back $400M of stock at an average price of $75/share, all using borrowed money. Surely they saw the sales slow down coming.

They hired a few new directors and engineers in manufacturing, process and equipment. I wonder whats going to happen to them with these production slowdowns, and now no new tooling.

Would of been more efficient if they would of just had a big bonfire with all of that cash

Come on, this is a natural extension of the cash crunch the di----t CFO & CEO lead us into. And it's actually a smart decision (I know, it's a shock!). Even this group of dipshits gets it right once they're forced to face reality. The delay won't cost hardly anything, permits are hundreds or thousands, not millions. And contractors are easy to hire at that that scale. This is good for the company. The decision making that led to breaking ground in the first place is the problem. The C-suite needs to go, they are universally useless!!!!

Lack of money? Probably yes.

Why do you stop a construction project? Lack of money? Probably not; your executive staff has just made a huge commitment to the growth of the company, you find the money.

This means that they have made a major course correction; doesn't bode well for existing HAMR plans...

For the volume of HDD sold going forward, is the wafer volume needed in the next couple of years? Ever? Or, is the idea to close Springtown once NRM is expanded?

Dave makes over $1mil from the dividend a year alone. Cut the dividend!

Cut the dividend! Who’s making these terrible decisions!!