Seems like seagate is going to cur everyone's salary by 10% from 1st of January
They had done something similar about 7-8 years ago
29 replies (most recent on top)
@pdau+1jZOiCmy.Yeah,a pay cut isn't happening.
Any latest info regarding pay cut?
The thinking has always been that managers and above are harder to replace than employees. It is good business move to reimburse and keep people that are harder to replace.
There is no possible way this group of execs is going to sit in coach for a flight longer than San Fran to Denver. There's also no way they are taking a pay cut this time around. Remember, this isn't a group of leaders attempting to navigate a difficult business climate. It's a group of vultures who have been looting the company for years. They won't stop, they'll just just eat some of their own and continue.
Last time executives took a 15% pay cut. This time executives will only sit in coach for all travel.
Jesus it's not 1920.Who uses the word buggers in this day and age.
Get lost all you greedy buggers !
Operators in Seagate Springtown were never reimbursed.
I was an engineer in MN and I was not reimbursed for back salary. My salary was reinstated, but not reimbursed.
I was in IT and got reimbursed. Senior Programmer/Analyst at the time.
I was engineer at LCO - was not reimbursed.
@aalv - everyone was reimbursed.
Engineers in Minnesota were reimbursed. Not sure about others.
Yes you are correct but it was only management that got reimbursed
No. It was more than just management that received a pay cut.
@8gkw+1jZOiCmy From what I can remember it was only management that got the wage cuts reimbursed
Yes, it happened in the wake of the 2008-2009 meltdown. It also had two waves of layoffs where headcount was reduced over 20%. Normandale was a ghost town.
I think 3 of the 4 quarters in 2009 we got the wage cuts back in lump sums after things bounced back and wages were restored in 2010.
If they were to cut salaries, they should do it in an equitable way that starts with the highest earners. A 10% salary reduction across the board hurts our entry level and low earners the most.
Do not spread rumors. There is no official announcement on that.
10% salary cut follow by layoff which will definitely help in severance package payment.
This is Sign of company tight cash flow and probably turn loss in this qtr..
It was 2009, OP has zero knowledge of anything...waste of time
Last recession we had to take 18hrs unpaid leave for a few months maybe 3...those on a salary took % pay cut, which they got back, I'm led to believe when their pay was restored the loss they incurred was back dated and paid.
Cut employee salaries while maintaining a dividend for wealthy investors? Class act.
Expected to announce cost cutting measures and discuss how to keep top talent under those next week.
Yep it was done before. Afterwards it was proclaimed a mistake that would never be done again. Lol. Are you sure the 10% salary cut won’t be achieved by layoffs?
What does "seems like" mean? You have a reliable source for this info?
I've been at Seagate 10 years never had a salary cut. When did they do it 8 years ago?
After 10% cut and get retrench, this company is hopeless
If they cut some employees wages by 10% then those people would be earning less than the uk minimum wage.