Is management's only solution for every business problem the handy RIF? Seems like they have no clue what to do about the changing storage industry.
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They've been out of ideas for a few years now. They've missed off of every projection they've made where our industry is concerned. Our glorious leader has handed the reigns over to a guy who has zero idea how IT works, yet thinks he knows how to run it.
There's a new management focus on people promised. Turns out it's a focus on getting rid of them and replacing them with cheaper ones. This seems like a really sick and demented joke to play on employees. Seagate has existed as a shell company to get selected people rich. Just look at how many executives have disappeared in the last couple of years alone with golden parachutes. Greed rules this company.
Barclays made it clear this week that the gig is up on the cost cutting strategy to support the EPS. It will be interesting to see how Mgmt deals with this going forward. Cutting cost is no longer impressing the street.
The problem with this company is they would rather rift a few thousand more employees before cutting the share dividend and reducing the earnings per share (EPS).. Ask yourself this. Who benefits from this misguided strategy. The millions of dollars that have been wasted keeping the share price artificially high at a cost to jobs and capital investment in the company . Some of the tools are so old spare parts are hard to find. Not of course forgetting the refinancing that was needed back in 2008. These loans need paying back starting 2018. Did anybody think that it might be a good idea to put a little away to settle these debts. Hell no, let's just keep throwing the dollars at the share holders, we can always take out a fresh credit card and transfer the debt...It isn't any wonder SL has taken to the lifeboat, because this ship is heading towards one mother of an iceberg...Good luck on Wednesday folks.....
Yup, it's all about the dividend and when they boosted it last time a few years ago, we were doomed.
No. Upper Management is brilliant. Our products have never been better positioned. HAMR of the gods will drive our ships to new lands.
They are playing five-dimensional chess, much like our beloved, genius, current USA prez.
This is a market solution, not a management. Shareholders stand before the employees, especially if company takes a stand in: 1) paying better than market dividends, 2) paying them on a regular basis.