Cash is already tight. Some salaries are already cut. Suppliers are not getting paid.
Imagine if many of those suppliers successfully pursue legal action against Seagate to get what is owed to them. Interesting things can happen in bankruptcy. Beware the dangerous game our leaders are playing.
https://www.msn.com/en-us/money/companies/workers-who-stayed-to-close-bankrupt-retail-chain-lose-promised-bonuses/ar-AA1fmwcF?ocid=msedgntp&cvid=79d448306bc64b4695c86c463307e13c&ei=34
Item not delivery shipment on-hold due to outstanding payment.
three HDD players left, and we know the supply base has dwindled too, so many have little choice but to await payment
Pay for what you ordered. It’s not that hard to figure out what the right thing to do is for anyone who was not raised by wolves.
Suppliers are no longer answering phone calls from Seagate due to lack of payment. Some of our buyers are resorting personal phones due to suppliers screening Seagate phone #’s. This seems like normal Fortune 500 business behavior I guess, it does help explain the recent uptick in the stock price. Investors love it when big companies frig over their small suppliers to pay them Dividends.
If you are a supplier going on 6 months without payment, while you see them still paying a dividend, what would you do? If it wasn't my only customer, I walk away from their business.
No legal action from the Suppliers. As Heavy D. Already convince them the payment already into part of the dividend funds.
Suppliers know that customers are now lining up ordering STX Hammer drives from now till end of 2025!!!
We are high tech company nothing will happen. Longmont ppl already behaving like FAANG with heads high up