End of April 38%, print.
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Look at the number of views on these posts. Still alot of scared people in SHK, NRM, LCO and Cupertino.
Shrinking revenues, 3 hdd products, hamr does work and 20th place in ssd.
Massive layoffs in 2019.
Somehow RIF thread goes towards manager bashing. Need privy information on possible RIF chances in EDS. Anyone in the house with any information. What is going on in the HR circles
I can tell you that the ratio of directors to reports in my group is 20%. It's crazy. That does not include lower level managers. If I lump in directors + managers to individual contributors in my group, managers are 50% of staff. RIDICULOUS. I hope they offer to move some "managers" that have skill to the individual contributor roles.
A layoff is a one time charge and will be dismissed by investors. They will praise the improvement to future cash. They are not going to keep people on with nothing to do because of a one time severance payment. Big cuts.
Large scale layoffs come at a price. Hefty severance reduces quarterly profit. All right there may be RIF but not 38% as the tread says. Directors and Managers with zero technical acumen who got promoted by their ability to s--- up to bosses will be let go. Good riddance.
Mr. Ponytail was invited to leave by much more than HAMR. Staffing up a group of expensive engineers to work on science projects that won't see the light of day is not in the company interest at this point. Leave that to the universities.
All directors are on the block in all areas. The goal is to reduce at least half of all directors and maybe more if you cannot get to 9 direct reports per director. If you do not work directly with customers, build the latest HAMR product or design a HAMR product you should be worried.
HR does not have a strategy and not adapting to the new world, still the 1980 handbook policies.
What happens at Seagate is that the most talented engineers get a promotion to be "managers" as a reward, and then instead of using their most valuable skills to contribute full time, they then are forced to spend 50%+ of their time on management junk and distraction activities. This happens because the individual contributor promotion path is usually blocked and under utilized, which forces very good engineers completely clueless about managing into a management role and this hurts the companies progress. It's also why you see a proliferation of managers with low numbers of reports. It's being used to reward top contributors and reducing their main strength contributions, while they still continue to do engineering part time instead of being true managers. Seagate needs to go to a model where managers are real managers full time of 10 people or more with actual MBA and engineering degrees (or equivalent experience in management), and talented engineers are promoted properly up the individual path so that the are retained and continue doing what they do best. The HR strategy at Seagate is a total and complete mess and this is just one reason why. But with Seagate, it's too hard to come up with an HR strategy and so we just fire people without though. The Seagate Way.
DH mgmt (read Director and above) pretending to 'lead' their 'teams' to a 'bright' future getting axed - all over - not geo-specific.
Next round is mgrs with <5 reportees.
Confirmed news.
If still in doubt, please ask your reporting directors on their plans for next quarter.
Working in HAMR didn't save Mr. Ponytail's job.
If you are not working in HAMR expect to get laid off.
The business is moving to 2-3 total products in HDD (10% of the total previous products on the roadmap. Expect major reductions in engineering.
SSD - not a lot of traction in products, tough to compete with Samsung. Tenth place plus and does not make money. Be worried.
EDS - Does not make money and cannot release a product on time. Be worried.
Is this RIF update for real or a figment of imagination. Will EDS get impacted or will the RIF distribute across division. Someone with concrete information please update
Keep an eye on insider selling. Yesterday was first day they can sell
Same thing with the buy backs. You don't see any executive actually spending their own money to buy stock for any price other than zero (free options). SJL liquidated pretty much everything. What does that tell you? Other peoples money to boost value of your own free options? Golden.
The problem with acquisitions is the same with socialism. Eventually, you run out of other peoples money to waste. They wouldn't have spent a dime of their own personal capital on these companies for what was paid.
doesn't make money and can't grow
Why is DH being declared as RIF target.