Thread regarding Seagate Technology Inc. layoffs

Stay away if you can

If young people are smart they would stay as far away from Seagate as possible. Our executive team is currently selling anything they can just to keep paying dividends. Running up 6 plus billion in debt and no hope for income in the near future, We will most likely default on one of our corporate bonds in the near future. Dumping VP’s, Directors, and any other high compensation employees may have finally come to pass. After that it’s time shut down plants or the B word. Good luck everyone we are going to need it.

@jsa+1nqYjn9n said it perfectly.

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| 1712 views | | 5 replies (last July 14, 2023) | Reply
Post ID: @OP+1nznZYiL

5 replies (most recent on top)

Agree, start your career with a company with a future. Seagate is just a shell company they are millkng to pay a dividend. Expect nothing but layoff after layoff, pay cuts, less benefits and all the stress and anxiety that goes with it while directors and VPs get thier bonuses.

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Post ID: @2yyh+1nznZYiL

@tsy - Stop yer gaslighting. Agree with the prior comment. I'm old enough to be father to those entering the workforce from college and I'm doing them a fatherly favor so they are not wasting their time at a crucial point of their career. While I'll not suggest the company will be gone in two years, the trajectory to a fulfilling career in engineering just isn't there any longer. This is a direct result of Dave's business plan of turning this company into a cash machine for shareholders and purposely running a large debt to ward off a takeover. It starved the company of capital and no technical diversification.

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Post ID: @qoh+1nznZYiL

Many of us Old Timers see the writing on the wall, if one my kiddo’s ask for my opinion about starting a career at Seagate I would give them a NO BS assessment. I would tell someone’s else’s Children the same thing. Seagate is a company like many before it and has failed to adapt to changing market conditions. Our executives are using all the financial strategies of a degenerate gambler in a desperate bid to stay afloat. So NO! we are not trying to save our jobs we are just being realistic.

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Post ID: @lla+1nznZYiL

are you trying to keep young people away for job protection?
if young join, do you share your knowledge or hide it for protection?

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Post ID: @tsy+1nznZYiL

Although the industry is filled with talented people, the leadership of both domestic HDD companies has led them into financial trouble. If you're a new college graduate or early in your career and thinking about joining this industry, it's important to understand its history and where it's headed. During recruiting events and internships, companies present a positive image and internships pair you with employees who support the company's interests, which is typical. If you still want to pursue a career in this industry, I wish you the best of luck.

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Post ID: @joz+1nznZYiL

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