I spoke with a C-Level assistant and this person mentioned a huge layoff is coming in all offices. Finance is apparently out this whole week to determine the final cuts. i guess this means don't make any big purchases.
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Finance is as an offsite in Santa Monica. Not as nice as Bali, but hey, good for them...
Recruited very hard couple of years ago sorry as he'll I accepted. Piss poor mid level mgmt. All they do is try to cover their Azz instead of trying to solve problems. I'm sure i'll be shown the door
Layoffs are coming by end of June. Period. It is the way that Exec Mgmt will try to offset a huge drop in revenue misses this year. Overall tectonic shift to Cloud storage and squeeze by better positions competitor, Western Digital, in Flash. H/C cuts won't solve STX problems and economy is headed toward a recession.
Maybe it's time our capital bubble pops. How many people really need an iphone or a Tesla that costs more than many employee's houses? Live to work, work to live.
Go Bernie Sanders!
Companies aren't hiring, more are slowly shedding jobs. It is easy to tell people go, get another job, but the reality isn't as easy as that. Companies that are hiring want the young new grads. Age discrimination is alive and well.
When are companies who use layoffs as a way to boost profit going to realize that those people can no longer afford to buy their products? If you don't have an income or live under constant threat of losing your job you aren't going to go out and buy new computers or tech gadgets? You aren't going to go on a spending spree to purchase clothing or anything that isn't critical to everyday living? When someone works under the constant threat of losing their job all of their money will go to saving and preparing for the ax to fall. Revenues fall farther and profit margins shrink further. A vicious cycle that is spiraling out of control.
My only last comment is Mosely is a heartless bastard and he couldn't give a rats assabout anyone or anything other than himself. He did is best to destroy the company his first time around the executive levels. When he was pushed aside things did improve slightly - it wasn't completely Watkins fault (although he did his damage). Mosely was right there chipping away at workers moral and benefits. Any perk that gave employees a little bit of joy, he took away. Nothing is going to turn around or get better until he is gone and people have a sense of stability.
Agree with the poster who says get off your assand leave. Outside of FANG, there's really not much difference between STX and other places. Yeah, startups sound great, but if you pay attention, the number of people who get wealthy from a startup IPO is very small. It's sure as hell not great right now, but if you're looking to leave to avoid possible layoffs, you should probably leave tech completely.
Haha last post must be one of the executives lackeys that's drinking the kool aid.
Seagate is sh--ty because you don't quit. Get off your lazy assand leave. If you hate it so much here then why not put your money where your mouth is. Quit. Get hired at the four best companies in the world (FANG) and enjoy your free lunches. No one stays at STX for the sh--ty canteen food, we stay here because we know it's better than working for a start up making mustache apps, working 24/7 in some toxic plant or pretending to love pre IPO stock that can't pay our mortgage. Luczo is a smart man, he sees our industry different than some engineer or admin walking the halls of the ivory tower aka Cupertino. If WD wasn't doing sh--ty, netapp, EMC (storage), etc then I would say WTF is he doing, but the industry is changing, the economy is changing. I rather have him then WTF Watkins or Rocky Road Pin the tale on the donkey. Mosely is like Obama, he has been a tough task, but things will work out. Cheers bitches!
This place is so sad to work for. Place has no leadership. If Luczo, Mosley, or Morton were running Apple or Google, do you think they would run those companies into the ground too? I don't imagine them being successful again in today's world. They are stuck in the past and don't know how to innovate.
I'm wondering what my incentive to work beyond the minimum is here beyond not getting sh*t canned? I know I'm not alone by the late arrivals and early departures en mass in the office. Nobody seems to care. No raises, promotions, bonus now for probably years following years of no raises. Constant threat of layoff. Yes, I've been forced to stockpile a massive emergency cash fund and I'm afraid to buy anything big for years. Frankly, I don't want to leave without that severance so sticking around. Maybe it can be turned around? Probably not with this executive set that went on a massive over-building endeavor based on a pipe dream
Has a layoff date been announced? Like last time around we knew it was September 9th at least a month and a half prior to the layoff date.
I'd bet Scotts Valley is gone, whether short term or eventually.... they are for sure shutting down the server room there, which was the primary reason those IT folks weren't shipped over the hill to Cupertino already (no room in Cupertino for a real server room). I can't imagine it will be hard to get out of the lease back agreement they negotiated when they sold the 2 buildings on SV Drive a few years ago.
Anybody has any idea about how Scotts Valley will be impacted?
Hi what guys is the last post from springtown referring to is it the same guys that kept them in a over paid post as so many are for the past 20 years real joke.
Most off your mates don't know what inside a clean room looks like.let alone have never worked a weekend or nightshift really take a good look.
We can't smell any roses here only the sh-- they are planted in.
Sick off excuses millions wasted on crap and we have been stuck in a pay freeze for years all to feed the greedy at the top ,well know what! !!!! it's caught up to bite your ass
As for our troubles teddy bear picnic opposed to the sh-- americas at.seagates here for one reason tax games and grants and low paid labour.
Several sources citing the possible closure of SHK drive center.
Guys wake up and smell the roses......Seagate came to Springtown N Ireland in the early 90s.....in the middle of the troubles ( N Ireland bombs shooting bla da bla etc ). Long before the modern trendy N Ireland....25% of Derry/ Londonderry was in total ruins...mass unemployment....STST has had 20 plus yrs of up 1400 plus jobs....its seen as thee place to work....question if u work here compared to elsewhere has it been a better a life than working outside of Seagate..if no why did u stay. Is there going to be job losses worldwide ....Yes...my guess up to 3K based on the 150 million $ allocated ...will it be in STST...most likely...am I worried yes ..am i scared yes...do I blame Steve L.....mmmm...I think mistakes were made Yes....but he has been the main reason we are still here..$ 3 a share cast yer mind back a few years...its a tough tough world and I am worried...for the end of June....but a leader needs to make difficult decision...do I trust Steve L..Yes...do I feel he cares bout people loosing their jobs..Yes.....STST wiil be here as well as Seagate n 10 yrs time...but leaner.....goodluck and may your God be with you in the months ahead...even one job loss is tragic especially if its you...Goodluck to those who go and good luck to Seagate afterwards and 10000s still employed. Make sure its fair and those who are always absent go not the loyal employees.
Yep looks like a hammer blow huge layoffs
Who's running the show that showed 2 seagate were necessary? Executives seem to put down what they want the street to believe
Anyone working for Seagate would be stupid not to have an emergency fund. Layoffs are part of the culture and will be for some time to come.
No raises, no bonuses, no promotions, but they expect you to go the extra mile and work extra hours. Screw that. Really hope I get let go. This is an awful company if you're trying to grow your career. Or if you like having stable employment. Or if you like being happy.
Just had meeting today morale at all time low usual story we want more for less.
Steve really needs to look at source of problem these guys running this show forecast less than 1yr ago that we needed a second Seagate to meet demand now they are saying we need half a Seagate.
Really get real less party's in Bali maybe. You could always try buy sell Facebook for new owner lol.