- 8.9% operating margin, lost $184M, -$0.88/share. Another layoff inevitable. We saw this coming months ago, so HR has been preparing for it.
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Definitely, next quarter will be worse. Dividend will be given as usual. Simple conclusion. RIF and cut OPEX. Close useless sites and high paying guys rather than cut small numbers here and there.
“ where is the HAMR ramp that was supposed to start in June?”
HAMR is the technology was 5 years away for 20 years before it was 2 years away for 8 years. It is now in the stage of being 1 year away for some remaining number of years.
We are getting closer.
"We saw this coming months ago..."
I saw this and much more coming as early as April 2020. Awful policy coming to fruition, little by little, until the entire house of cards falls.
Lifting pay cuts but will be cutting many jobs pay 100% due to upcoming RIF. Wouldn't get too excited.
where is the HAMR ramp that was supposed to start in June?
Next quarter also looks like a loss. Pay restored, so where’s the cash coming from to operate and pay the divy? Mass layoff coming!
@xdo+1phnAeLG: Why would there again be pay cuts when they are lifting the previous pay cuts?
More layoffs, pay reductions on the way. Bet your life that dividend will still be paid.
This is what you call a death spiral. Company needs to get sold to a company that will flush out bad management and old ways of thinking. Only way to survive. No products and investments of past of come to haunt them.
They are lifting the pay cuts
Consecutively down for two years in a row