Starting in FY24 there will be another pay cut and Total Rewards team is planning to cut the 401k match from 50% to 25%.
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Whew, at least that will save all the VPs and directors we have in HR though. Be grateful we have such a caring leadership team
401K cut is an easy one and so are pay cuts, it's restoring them that will be a problem
It happened before with pay cuts.Upper management and above got repaid the money that was cut.They will get it back like they did before.
How much salary was cut previously. Is it percentage of base pay ?
Reliable? On this forum..... It's always a shot in the dark. Usually everything here is exaggerated. So maybe different variations.
Is this reliable information?
The gravy train management people are getting very nervous, no bonuses, salary reductions, stock grants evaporating, and worst of all they may have start doing actual work leave the cubicles as it were. Dear G#d the horror!
The irresponsible insanity of taking on another billion in debt to pay the divided is all you need to know that Seagate will be bankrupted on purpose.
STX FY24 is from JULY 1ST OF 2023. It is less than 6 weeks if this is true.
Already cut x % for half year, you mean half year later there will be another cut?