I can't understand why our C-Suite can't make a profit without cutting employees. Shouldn't it be their job to find ways that are going to help the company long-term, as opposed to layoffs, which are only good for a short while before it becomes obvious that you can't manufacture profit by reducing the workforce?
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What? You mean all that stuff about the endless exponential growth of needed storage in the world with the IOT, edge, and IT 4.0 that was spewed for the last 10 years was all BS? Imagine that.
WTF does Musk and Twitter have anything to do with C-gate? Stop dreaming about your idol for once.
@rkc+1 agree, both domestic hdd players have been too slow transitioning to a data center business model as fewer absorb more cost. Both opted for some form of a piecemeal transition as sales slid from 10 of millions to millions. As you point out, a drastic approach may not have worked, but based on Musk's entrance in Twitter, a more radical approach can be done
Unfortunately, the cuts are actually overdue. The total HDD market has dropped by 75% since 2010. Yet we still have multiple head manufacturing facilities, drive design centers, etc. To date, most of the cuts are minor; nothing has been consolidated. My guess is that the executives have avoided making the necessary drastic cuts so far because that would scare Seagate investors. I believe that they are finally at the point that they can't put this off any longer. Prepare for more pain.