Any Idea How many people? 5000-6000 according to sources.
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None.
Just more fake news.
We employees shud do some soul searching n reflect, get out of comfort zone nonsense n get ready ur resume, or b stagnant when the guillotine comes down.
Drastic action is going to be required. A company that is shaping up to be third in the data center in the next year at high capacities cannot afford California and all the design centers. It does not make sense, but I am sure Seagate can rationalize until it cannot borrow more.
I think California has also been implementing nutty and absurd tax levels and regulations on businesses and causing costs to skyrocket. More are proposed every month it seems. The government has become extremely hostile to corporations and has even started passing mandates about the makeup of the company board of directors. I bet it's a factor driving Seagate out of CA even though the executives do their best do virtue signal liberal values while avoiding paying every cent they can. I think FRC is also at risk.
I would say Cupertino to LCO would make a lot of sense if it's 1/2 empty and full of high cost support group personnel, but my only doubts have to do with the elitist class of people and the need to be seen as part of the silicon valley community. I bet DM would love to set up shop in Colorado again since he is basically home there. I have to wonder how many people making 6 figures are employed to just bring us the mySeagate daily news eed. From CUP I would think. Somehow they still are considered more essential than people who actually produce products that make money.
FRC for sales office, but the support jobs do not make sense in such an expensive area of the country.
Does Seagate need Cupertino or a silicon valley presence?
We need more lay off to survive with only few product lines, revenue per employee is very lowest in tech industry.
Why not Cupertino to FRC? Makes more sense.
Cupertino is half empty and has a lot of IT, HR and Finance, and just a bunch of executives. There is no reason to be there but a lot of reasons to move into one building like Longmont to fix the cultural problems. Longmont has room for 100 now, probably 400 after next RIF. A 2 year plan would be needed to close building as Seagate moves slow.
What sources? More gossip?
I sincerely doubt a Cupertino move. SHK close won't happen that quick I think, but I would not be shocked to see a large reduction at both SHK and LCO as a first step prior to consolidation. If you look at the historic model of how a closure is done, it takes a year or 2 of increasing cuts and transfers of responsibility prior to shut down. SHK is about 50% empty today prior to any cuts. Room for groups with large and expensive equipment to sets to transfer will be an issue that will take time to work out. So, how much room do you think LCO has?
Closer to 2500, impacting r and d, PLM, unnecessary support functions. Close Shakopee and move Cupertino to longmont and focus on recovering from HAMR mis steps and doing something with systems business.