Thread regarding Seagate Technology Inc. layoffs

The issue of RIFs isn't "if" they will happen it is "when" they will happen and how deep they will go. Losing a huge number of sales of HDDs from our customers for FY23 is going to hurt, badly. The impact isn't even known yet. Cuts to funding projects, and even individual purchases are widespread and comprehensive. Deferring payments to suppliers, asking customers to place orders ahead of schedule, cutting projects, scrutinizing every dollar spend. These are all good things and should be done routinely but being that we haven't, we are not prepared to weather this storm of less drive orders from customers.
Additionally, now is the time to really focus on Storage as a Service (LYVE) to our customers. Higher margins, more flexible expense, and less dependency on a very constrained supply chain, would right this ship. Just cutting headcount, although effective at reducing overall cost, only sinks innovation and moral, and even if the stock price gets a mild bump for it, isn't a sustainable approach.
New Leadership from the top down should be recognized by the board. But being that our board members are likely huge share holders, they likely won't act on that. Instead they will cut the middle managers and workers. And we will go through this again next year, like every year.