Complete restructure, reorganization awaiting with new CEO. BCG is on site now.
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This occurred on Friday after the market closed.
https://www.reuters.com/article/brief-valueact-capital-master-fund-says/brief-valueact-capital-master-fund-says-on-aug-31-entered-into-a-stock-purchase-agreement-with-morgan-stanley-related-to-seagate-technology-idUSFWN1LI0PX
Musical chairs game
The problem is, Seagate doesn't so much need a reorganization as much as a real plan for how to move the company forward so it can survive. A reorg is simply straightening out the deck chairs on the Titanic.
Don't grab the rotting rope.
As the old chinese saying goes, "Those who seek death shall live, those who seek life shall die."
41AF6u-1xwr, get a grip would you.
It business 101. The YOY revenue drops drastically, but need to make share holders happy by dividends to the levels not by any competitors whose YOY revenue is growing as well as paying management with hefty pay rices which leads to reduction in OPEX. The problem is revenue is not stabilizing and predicted to spiral downward drastically till it reaches the floor. This results in blood bath in all high OPEX sites while the projects shifted to low cost Asia.
Package! - package! - package!
It gets worse, they are laying off the wrong teams and doubling down on the teams who have/are failing with no clue.
Kiss of death is coming soon to so very many. It smells like roadkill on a hot day in paradise. Can you hear the gnashing of teeth and gasps of last breaths? If you thought you were immune, you thought wrong:
https://www.google.com/amp/www.barrons.com/amp/articles/valueact-ups-stake-in-seagate-technology-1502468146#ampshare=http://www.barrons.com/articles/valueact-ups-stake-in-seagate-technology-1502468146
Seagate is dead in the water. Worthless upper mgmt like Ian and other clowns have ruined it. Buying Xyratex, Evault and Dot Hill were the beginning of the end for the company.
Ready to go..... operators queuing up for payoff.....dont leave us out this time....
New CEO?? No. Company just spin the revolving door. Only poor employees are pushed out from company.
I am so ready for a package. We really need a volunteer and signup list.
Boston Consulting Group (BCG) spams across so many countries, hard to deduce which area will be affected
Where do sign up.....happy to get paid to get out.
which sectors are affected??
BCG = Boston Consulting Group.
They have a large corp restructuring and change management arm - most high profile layoffs (2000 people or more) in the country are led by BCG
Yes, let's spend millions hiring someone else to organize the company because the executives we currently pay millions to now are unqualified to run the business. SAD!
BCG = Bain Capital? If they has been sited on site you can be 100% sure it's going to be an epic bloodbath of a layoff. That is what Bain does.