If the lion's share of Seagate's profits are derived from rotating storage, and rotating storage is in decline compared to SS, and Seagate has no serious profit plan B apart from rotating storage, doesn't that mean Seagate is at a dead end?
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Thi thread aged well :)
I once visit the last factory in North America making floppy discs. Light-out factory running on 30-year old equipment with zero operators. When line stopped everyone of the few people working in the building knew how to give it what it needed to getting it running again.
This is the eventual end game for HDD. Decent profit on declining business doesn’t make for a place you want to dedicate your career. Unless you are way at the top.
Well, we certainly can’t get rid of all the people exchanging slide decks and arguing about a tenth of 1% on faked projections all day long. That’s critical stuff. So I don’t know how they can cut.
@19f Well if you want to go down that path, there were over 100k employees after the merger with Conner. But yeah, there will likely be another significant cut as HAMR takes over PMR.
In 12 year 50% cut of employees. that is the number we care about.
When I am going to be cut?
https://www.macrotrends.net/stocks/charts/STX/seagate-technology-holdings/number-of-employees
2024 30,000
2012 57,900
magical thinking believing in forever
The profit machine is running no matter what you think and AI will replace workers to keep operating cost down and our dividend will grow
When CDROM came out, we thought we were done in three years max. Then Sandisk came out with a memory stick that was going to end disc drives in a few years. I quit trying to predict the demise of rust recording.
Just keep it going so I can retire in 5 years please.
Seagate is a $32B company and seems to be doing ok without your hard hitting market analysis thats been repeated over and over for many years and has yet to be proven true. Stay on it tho and keep us posted!
Don't let this secret out. There could be an employee stampede for the exit door.