People who were laid off were not non-performers - they are expensive one cost wise .... The one left behind is not the cream rather they are cheap from cost point of view ...
Bow Luczo needs to keep the tempo up till he sacrifice more goats to satisfy the stock market - don't be a fool & think that you were not chopped because company values you as an employee - it is just matter of time before the Ax falls ...
Happy day dreaming everyone .... F*** Seagate ....
Ask yourself why Seagate is eliminating unneeded staff while incentive zing remaining necessary staff to stay (at least for now). Why would they push the dividend out? I'm wondering if Luczo is readying things for a sale of the company so he can cash out.
STX mgmt has realized that the remaining folks who have survived so many layoffs are cream talent. They do not want to loose these folks to Google, Facebook etc. Hence the massive bonuses and focal increases.
Is it picnic time now - 20% bonus for foot soldier @ STX is unheard off ....
4% focal for my management team. Bonus was 20% if you remember it's six months of pay, not year. So poster is correct based on my focal numbers.
I posted the amounts, that is for a water engineering group in NRM. If your group is different, I'd love to hear it.
bonus amounts specified in email are not what the engineers get -- it is KCPB which is decided by individual managers. go read the HR page
Not true, bonus amounts cap out at 2.81℅ for 5, 1.87℅ for 3. Focal amounts have not been announced but given the bonus pool I highly doubt it will be anywhere near what the original poster stated.
Last post is correct. The company may have grown a brain cell and realized it is extremely expensive and time consuming to hire and train new employees versus retaining existing ones. US sites have been experiencing debilitating turnover as people realize they are significantly under compensated and there are ample better offers to be had elsewhere. Major brain drain has happened already so it's kind of too late now. The company has appeared to make moves in the last few years to reduce benefits and compensation, especially for experienced employees and apparently thought they operated in a total market vacuum, or else thought they could abuse employee loyalty. Whatever the cast, the HR strategy has been a complete and total disaster. Stupid is as stupid does.
Don't know for sure, but I'd guess that a number of US employees are worried about the future viability of Seagate, and have either left the company or are seriously considering looking for employment elsewhere. Its cheaper for Seagate to pay nice bonuses and focal increases to retain talent when the future of the company is questionable. It reduces questions from the investment community as to why your turnover is the US is so high. Otherwise, the high turnover among the highly educated in the US would suggest the future may be less bright than advertised.
why US employees get such a big bonus and focal increase. it's so unfair !
20%-30% Bonus. 5%-10% focal increase for all US Employees.