Seagate posted super results today. Everybody is now confident that company has turned the corner. No more layoffs for years to come. One happy family again.
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It is the final countdown! Luczo promised to the street that layoffs would happen by year end. With US furlough, that leaves 7 weeks max.
It's the final countdown.......
Will be even more higher earnings with the RIF's coming soon. Say additional 5000+ employees to be RIF
Never gonna give you up, never gonna let you down
Never gonna run around and desert you
Never gonna make you cry, never gonna say goodbye
Never gonna tell a lie and hurt you
Everything is awesome
Everything is cool when you're part of a team
Everything is awesome when we're living our dream
Everything is better when we stick together
Side by side, you and I gonna win forever, let's party forever
We're the same, I'm like you, you're like me, we're all working in harmony.
Yes, it is almost like working for a new company. Optimism abounds. Management wants employee feedback. They want us to be happy and fulfilled. Yes, the future is bright at 3gate.
Company making profits in 2 ways. Selling more products with higher margin or lowering overheads.
Yep, it's in the local paper:
http://www.timescall.com/business/ci_30490824/longmont-employer-seagate-reports-earnings-167-million
Stable financials doesn't mean they won't do a layoff. Deleting idle excess resources will be ongoing. It must continue to drive provide during negative growth.
Just consider this as a smaller version of Thailand flood in 2011. This time is caused by NAND shortage due to 2D->3D transition and iPhone 7 launch.
OP - your sarcasm is showing...
Have you been have you been drinking
Seagate needs to become a much smaller company to deal with the projected decline in the HDD market. The shortfall in SDD units won't last forever. Consider this a pause to catch a breath before the kraken pulls you under again.
Oh No the stock price has fallen.
More RIF's on the way .... Get ready folks
Especially Bangalore