It formula is simple. Generated Revenue - costs / shares. When this is projected to get anywhere close to the $0.63, assume more cuts. The management made a calculated (and a bit criminal IMO) decision to go to a 63 cent dividend a few years ago when they enjoyed an extraordinary boost in profits from the Thailand flooding. When they cheerfully announced it (while patting their own behinds) at the time, I knew we were screwed. They will never allow this dividend to fall and collapse the stock. You can whine and opine all you want but all you need to do is watch that formula.
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DirtyPPA makes a good point. There is no rule that says you get to keep your job forever.
With the exception of the U.S. government, I don't know too many places that keep you around until you fall over.
If the poster "dvtf" knows of some successful tech companies that actually keep everybody, forever, I'm sure there would be some folks here interested.
Let's see who he comes up with.
No, not really.
Keeping employees is not the goal. Making money is the goal.
Now get back to work.
Anyone else see similarities between Seagate management wanting to keep the dividends paid more than keeping employees, and Venezuela making bond payments while their countrymen starve?
They're not done draining the swamp yet, Forest.
Do the math....less bloodsucking employees, muchos dollars coming in.... smells like a party.
Don't you wanna play?
"They make too much and you complain...."
When will that happen? A bump to 2.9 bil is a shadow of where this companies revenue was four years ago.
LOL. Blaa blaa blaa.
They make too much and you complain, they don't make enough and you complain.
You sound like my blood-s---ing wife.
I bet you are a 'glass is half full of doggy doo-doo' kind of a guy, aren't you.
I'd rather go thru life on a more positive note. Like, I'm positive I want to whiz in your coffee cup.
It's the seasonal bump at the end of the calendar year. Anyone who has been around long enough knows this. Nice try HMBlls.
Jan 8, 2018:
88 exabytes (equiv to 40 million 2.2 terabyte drives).
$2.9 billion in revenue.
All you doubters can say you are sorry for doubting me by holding my balls next your lips and asking for forgiveness.
Now say it again like you really mean it.
That was nice. Was it good for you?
Now get back to work.
Seagate is adapting by shrinking. It vertical integration required a broad range of products across which to distribute the costs. Now that the HDD market is shrinking in response to SSD, particularly at the low and high end, they have far too much capacity to profitably utilize. downloadbesttorrentblog.rus are a ploy to delay what is really needed, and that is to consolidate their drive centers into one facility, and eliminate the redundant component centers.
Executives have repeatedly demonstrated that they are clueless about how to adapt to new markets, first by selling off what they owned of Sandisk, then buying multiple companies that they had no idea of how to run profitably, much less integrate successfully to the business.
Some companies adapt, and others die. Seagate will have a slow lingering death for the next 5-10 years.
"You would have us believe that Seagate and these companies are all doomed because of that? Get real. Businesses go thru changes. They adapt."
So please do tell us how Seagate is adapting.
Seagate is exactly like Radio Shack, Sears, and Kmart in the sense that it has no answer to the competitive pressures it faces. Disk drives are in slow decline, Seagate has no presence in SSD to speak of, and their touted savior for the future "HAMR" is simply not reliable enough for anyone to seriously consider. Unlike Radio Shack, Sears, and Kmart, they have no underperforming stores to close, so they continually lay off employees in an attempt to make the numbers look good. Like Radio Shack, Sears, and Kmart, Seagate has loaded up on debt and used the money for stock buybacks and dividends because the executives have no clue on how to productively use capital to grow the business. Eventually, revenues will shrink to the point that they won't be able to cut enough people to make the accounting work. They'll have to cut the dividend and they will probably struggle to refinance the debt. Of course, those who created this problem will be long gone, and they company will be run by a bagholder, possibly the current CEO.
What's your favorite there KMA? Grape or Strawberry?
OK "dude". I can see you must be old or stupid because you haven't figured out how to follow an entire thread to keep from saying something that has already been explained. So at the risk of boring the others on this board, I'll repeat the following: Abbott Labs, Exxon Mobil, and McDonalds (just to name a few) have all had down quarters this year. You would have us believe that Seagate and these companies are all doomed because of that? Get real. Businesses go thru changes. They adapt.
Do some research before you open your pie hole.
By the way, comparing a vertically integrated manufacturing entity like Seagate to second-rate retailer Radio Shack who simply slapped their label on someone elses crap is about as bad as any tweet your buddy Trump has farted out yet.
You're welcome, "dude".
No one here is arguing that Seagate is not profitable dude. The whole point of the thread is they are on this downward spiral of maintaining the dividend by continuously cutting staff because they are not growing their revenue. Figure it out, this is the path that Sears, Kmart and Radio Shack took before they went into their last throes. Go ahead and drink that laser based kool aid I guess.
1st thing 1st, all u douche bags that can't quite conceive free market and capitalism: Seagate will continue to cull the useless, while showing a profit.
If you have trouble finding the link that i previously posted proving Seagate is profitable, then you are probably the select few that will see an early exit. Congradulations. I guess you just did yourself a favor. Funny how stuff always works out, eh?
1st thing 1st, the only time this board accurately rumored a layoff one month ahead is 12/6/2016. This is to say this board is not for you.
Do the companies you quoted have a competing product/technology against them like STX is facing SSD? I recalled STX announced SSD capacity and density first achievement in CES a couple of years ago. Let me know when STX SSD is profitable.
Quote ... "I apologize for the name calling. The fact is, Seagate IS in the hdd business, so they are not expected to "pull" out anything other than ever improved hdd (which they are doing). What would you have them do.... get in the solar cell business?"
Why not, if making broad change to the core business mean giving the coy new life and opportunity. This is crucial expecially in the technology sector, before its too late (might be so for seagate).
Improving their current core business (hdd) is an over-statement, rather the coy appears to be waiting for external factor to revive its business (thailand flood, outlive competitors...etc.)
Its easy to go off topic...but chill, while we wait for more layoff update.
So using your arguement,
Abbott Labs, Exxon Mobil, and McDonalds are all doomed because they have had several down quarters recently.
I couldn't agree more with 7bqv...
Good people "exiting" has doubled my work load as well, which may decrease my chances for an early exit. But in retrospect, I'd rather have some of those fine souls back on the job, as many were my friends.
Seagate is improving the gross margin by improving manufacturing processes, reducing factory foot print, and yes, reducing people. Back when Seagate had over 60,000 employees, heads were installed into the harddrive by hand. Imagine that.
I apologize for the name calling. The fact is, Seagate IS in the hdd business, so they are not expected to "pull" out anything other than ever improved hdd (which they are doing). What would you have them do.... get in the solar cell business?
As for the reputation, the outside world and product reviewers all pretty much agree that the quality is actually improving.
So please show some respect. Some of us actually like working at Seagate and appreciate the complexity of, and the engineering that goes into, every hdd. An early "exit" is the last thing I want, but sh-t happens. You move on and take what you learned and apply the skills at the next job.
I come here to get news of layoffs. Not fake news and baseless product reviews.
You are an idiot. The financial statement below is not from a company that is going away anytime soon. You, on the other hand, probably should. :)
Cant disagree. The company do not have any sort of intention of pulling out something decent other than hdd. Despite so, the latter has bad reputation as well :-(
As long as STX is profitable, it will keep paying dividend. As long as revenue is declining, stock price will go down. Hope STX does not come up with ideas like SeagateTV or cloud of things any time soon. STX only has know-how on HDD, no hybrid or SSD please.
Getting HPE retiring CEO may not be a bad idea. She broke up HP pretty good with no baggage.
Seagate still profit from its core business - selling hdd. Obsoleting hdd is overstated. There are still demand for cheap storage.
SJL screwed this company royally ... his financial re-engineering and over capacity planning by Mosley - factory of the future and then scrape everything ....
It is a beautifully run company... going into only one direction - SOUTH ....
Oh yeah. Seagate has been a financial engineering company since 2011. All those dividend hikes, buy backs...