The Board has simply gone along with all the nonsensical ideas of the CEO. If STX had an actual participating BOD, what would they do to fix the business?
5 replies (most recent on top)
- Do not announce layoffs on an earnings call and then wait 2 weeks to actually do it. Unproductive 2 weeks for global staff.
- Shutdown 1/3 of all factory capacity based on actual expected utilization for the next 18 months and not the fairy dust forecast.
- Shutdown all projects not related to cloud immediately.
- Request honest financial forecasts from third party and not use the internal forecasts produced by people not wanting to deliver bad news
- Get rid of people that bet the company on HAMR. How to identify? For the last 10 years they said hamr will be scaling next year
- Fire CEO
- Explore merger options
- Cut all positions not focused on revenue, including Business Excellence, chief of staff roles, admins, executive assistants.
- Recognize cost cutting alone will not make failing business healthy
- Temporary stop dividend