PFrosty and her HR army are targeting an additional 10% cut across the board, regardless of role. P3 and up will have their salary reduced for additional 6 months. I'm personally jumping ship soon.
"People first!"
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Frosty could go weeks without lots of food on the battlefield. Roaches were like raw steaks. The berries on bushes were delicious snacks. The only thing that mattered was accomplishing the mission. People will always come and go. Your complaints about financial sacrifice mean nothing! You do not know the true meaning of sacrifice. Maybe a year of pay cuts will give you more appreciation and understanding regarding what mission first really means. Managing costs is the mission! Do your part however long it takes! Now get your bu-t back in the office!
I'm reducing my work output by 3% for every 1% pay cut. I'm already producing 30% less after the existing ~10% pay cut.
Cut pay by another 10% and, well, you do the math. If they cut the 401k match, I'll factor that in as well.
If taking an additional 10% does that mean Dave and Gianluca would have to pay for the pleasure of working here??
Start your career with pride at Seagate. Low pay and tons of g-y!
If you are a military veteran, your pay cut is reduced by 50%. If a veteran served with Frosty, the payout is reduced by 75%. Soldiers take care of soldiers.
P4 was a something like a senior managers and engineers if my memory serves. Anyone else know for sure? Yes the pay cuts in theory are temporary.
Fake news
Without the pay-cuts, how can they afford to keep paying the institutional shareholder’s dividends? They have to take it out of your pocket so they can put it in the pockets of the bankers. Vanguard, JP Morgan, and Fidelity will continue to fatten their pocketbooks while the working class pays the price.
Current pay cut starts from P4. If next pay cut starts from P3, then P4 and above will be double pay cut?
Anyone still with this company and complaining about mistreatment have only themselves to blame.
- when salary cuts were announced, didn't they also state that the cuts would only last for finite period of time?
- What does P3 translate into, as far as job title/role?
Thanks in advance.
Things are so bad financially for Seagate that further cuts are mandatory at this point. Cuts will save money but Seagate is in desperate need of good old cash. Without investments or a huge sales uptick all the lay-offs will accomplish nothing. Things are looking really tough for us Gaters for the next 12 to 18 months. Hoping the market starts buying your product again is dangerous or foolish plan at best. Maybe this what things felt like at Theranos. No easy answers just different levels sh*t.