How long can we consider ourselves safe after the last layoffs? I'm hoping that we can at least finish this year without another major round. I am well aware that there are occasional cuts where a few people are affected, but that's something we can't escape. I'm asking about major rounds.
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Great works are performed, not by strength, but by perseverance.
The very best thing you can do for the whole world is to make the most of yourself.
@OP+1n3zGU1A. Erase the concept of "safe" from your mindset and vocabulary because one is not safe, one occupies a role that is 100% vulnerable at any time
Manager considered not high management 🤔 I see. It your opinion. So like that, Manager , engineer will be layoff this july
High management what does that mean ..already lot of VP’s are let go..only managers are left
This coming July layoff, only high management, NO technician or operators affected in SG seagate. Next layoff on October will be technician and operator
Just remember starting in q1fy24 we need to allocate about $160 million each quarter to pay dividend and Huawei penalty. Then, we have to pay down debt, service Air Frost One, reimburse executive travel expenses, pay legal fees, etc.
If you are a talented person under 40 and stuck at Sr. Engineer or lower I would get out ASAP. With the pay cut chances are good you can find a better paying job now and better future pay at another company. You are basically going to ki-l years here with no raise or promotion if you stay. My buddy at another company doing well is getting big bonuses and rewards.
There is a manager in Longmont who told that nothing will happen as there are only 2 HDD companies and Seagate can’t be lost. Just thought in mind what a loser he is
Please note that in 2022, the number of drives sold (166M) is 25% of that sold in 2010 (651.32M). That is more than a 10% annual drop for 12 consecutive years, even while all three HDD manufacturers continued to push areal density increases or just shoving more disks in a drive. When Seagate executives talk about HAMR, they're trying to sell it on competitive advantage, not on market expansion. At best HAMR gives Seagate the best seat on a sinking ship, it won't bring the market back (or your job). Start planning on how you will take care of your family.
in this business, the next layoff is just around the next quarter, and the next, and the next
There is no cash to ramp HAMR. Too little too late
Simply there is no such as thing as the last layoff, wake up dude!
People don’t seem to understand that this technology of tape is towards end of life…do you think ppl will keep buying drives forever. ssd will catchup and there is not point buying drives once it happens. A wise person would pack his back and look outside if he is safe..of course there are people who can’t find a job outside of this company and they will hang on this forever until the company kicks them out
Hard or soft ..sh-t technology always comes to an end..
2012: 650 mil drives sold WW
2022 133 mil drives
2023 even less
https://www.statista.com/statistics/398951/global-shipment-figures-for-hard-disk-drives/
At WD the CEO calls it "right-sizing" to the investors at not layoffs.
There will be more of it, whatever one calls it.
It has nothing to do with the economy, as the economy was good 2012 -2022.
It is the technology. HDD vs Flash
depends on customer inventory digestion and the macro economy, but a pure guess is another 6-12 months of uncertainty The rush to AI is going to drive capital toward the likes of NVIDA, AMD, ORACLE, etc. and into customer facing in product or service offerings from our FAANG customers, so what capital $$$ are left to expand data centers? The stock market reflects this as our stock is not benefiting from the AI hype train.
Depends upon where the economy is heading. Soft landing = you're safe. Hard landing = nobody is safe. It feels a lot like 2007 at the moment.