https://finance.yahoo.com/news/reasons-why-rid-seagate-stx-144602598.html
SSD, debt levels, frequent management changes - Yup!
9 replies (most recent on top)
Why Micron? Sounds more like something Broadcom would do.
Maybe HDD will have a long tail, if you believe this and cut all the waste maybe the cash flow will exceed the 10 billion it will pay for it and the debt. Tape is still around
Sell HDD's as a commodity for the cash stream and sell off STX assets until there is nothing left. HDD sales will level out at a much lower level and provide a cash stream for Micron. Believe it or not, tape reel storage drives are still being made and sold to people and businesses with older equipment.
Can anyone explain to me why Micron would invest even a nickel into a debt-laden company like Seagate with an end of life technology that Micron's own technology is destined to replace? Their money would be better spent fashioning the dagger they're doing to stick into the heart of disk drive technology.
Yes, if you think working for Micron will be a dream, go look at the glassdoor reviews. They are even worse than STX! Horror story after horror story.
The scenarios outlined here of being taken over and the seagate workforce being forced to accept
a new set of conditions and the idea of an advance party coming in from a possible buyer and the purchase taking place a few months later are not idle speculation. Ive seen both scenarios take place in the not to distant past.
Seagate needs to cap severence at 4 weeks like IBM.
Generous severance for now, with the large number of layoffs coming up the plan has to be modified to something similar to Micron of a max of 13 weeks.
That's exactly what I've been posting about here. The company is a debt bomb. Real debt is closer to 5 billion. But, are they getting ready to sell this POS to Micron for pennies on the dollar behind our back and keeping us in the dark? Clue: new CFO, and CIO axe man in charge of transition. The execs will get nice payoffs when Micron takes over, and for you they can lay off people and give you a much much smaller severance package under Micron policies. We are all going to get screwed by Seagate executives en the end. Think we aren't? Before then, they are going to fire sale assets and fire you too to get it ready for sale and also liquidate entire buildings/sites. If you get laid off under Seagate, you should be grateful because of the generous severance!