I'm curious who decides which employees to stay or leave? My manager got laid off during the previous round in 2015. He told me he doesn't even know who would get laid off in our team.
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If significant layoffs help top management deliver the $500 million or so in OpEx savings that has been suggested, they will have done their job. Being top execs, they're likely to be well-compensated for it. That's not to say that layoffs aren't necessary - they are. It's just that while thousands are suffering, a few at the top, at least potentially, could do quite well. Not unique to WD, happens often in large corporations.
If significant layoffs help top management deliver the $500 million or so in OpEx savings that has been suggested, they will have done their job. Being top execs, they're likely to be well-compensated for it. That's not to say that layoffs aren't necessary - they are. It's just that while thousands are suffering, a few at the top, at least potentially, could do quite well.
I don't think management will be drinking champagne and eating caviar to celebrate layoffs. These guys have to deliver the synergies that wall street wants. Or they get the axe themselves.
What is the alternative? We have a shrinking HDD TAM, and now with integration, multiple people who do the same job.
A sucky situation for all, particularly for those who get laid off.
The leadership will be drinking champaign & eating caviar the day the layoff notices go out...Cordano will be so pumped up & happy, he'll do an extra workout at CrossFit.
The CEO, who stands to make even more than his already obscene pay package. The President and his executive/sr. vp minions. They'll all make out like bandits from these layoffs.
Good question. I don't know since I was laid off last year. In that case, they were just reducing my department a little, trying to get rid of higher-paid folks just before the Board met. Those layoffs (at least in my group) didn't seem to be planned very well. This time it's probably bigger picture layoffs. Like, for example, WD has marketing people, HGST has marketing people. Does WD need the same # of marketing people now? Probably not. Same with many other groups.
The president of WD is at HGST headquarters in San Jose, I believe. HGST has a brand new headquarters building that they own. WD Irvine just leases space. My guess - and I could be wrong - but the plan may be to migrate much of what Irvine's been doing up to San Jose.