Seagate to fire 14% of its staff (= 6,500) people

[HarmFull]

Seagate is set to fire 6,500 people = 14% of total staff members.

 

Earlier in June it was pretty much announced that seagate would have to make cuts in their personnel, but it has since expanded on its previous announcement of 1,600 employees

 

Quote

Seagate Technology Plc, a maker of disk drives for computer storage, expanded plans to cut jobs to 14 percent of the workforce, seeking to reduce costs to weather a prolonged slump in demand.

The company will eliminate about 6,500 positions by the end of fiscal 2017, according to a statement. Cupertino, California-based Seagate had previously indicated workforce cuts of about 3 percent, or 1,600 jobs, and the stock rallied as much as 13 percent on news of the broader restructuring. The moves will result in pretax charges of about $164 million next year.

source: Bloomberg http://www.bloomberg.com/news/articles/2016-07-11/seagate-expands-job-cuts-to-6-500-as-pc-component-market-suffers
 

 

Quote

What’s more, the company noted today that it expects to sell more hard drives than it previously estimated: its latest revenue forecast for Q4 2016 is $2.65 billion, up from $2.3 billion in its last prediction.

The move will cost Seagate $164 million in pretax charges. A company spokesman told The Wall Street Journal that the newly announced job cuts will mainly affect employees involved in manufacturing operations; Seagate’s main manufacturing facilities are based in Malaysia and China, with some also in the US and the UK

While Seagate hopes to grow revenues by the end of the year, it remains to be seen if the company can innovate enough to stay in the game in the years to come, as disk-based storage continues to lose out to more stable and faster technologies. To that end, rival hard drive manufacturer Western Digital acquired flash storage firm SanDisk in May, after announcing a $19 billion deal last October.

source: The Next Web http://thenextweb.com/insider/2016/07/12/seagate-cutting-6500-jobs-even-though-expects-sell-hard-drives/#gref

 

They might expect more HDD sales, but I feel that they are realizing that HDD's are a thing of the past. As long as their CEO keeps boasting that HDD's are not a thing of the past, we can keep laughing I guess 

 

EDIT: I've changed 6.500 and 1.600 to 6,500 and 1,600 as some of you have pointed out. I'm european (dutch) so sorry for the inconvenience. Can't change the title though

Edited July 12, 2016 by Ryan_Vickers
changed title to reflect style of OP

[Simon771]

SSD are taking over the market.

Today you can get 960GB SSD for 130$.

 

Slowly HDD will become thing of the past if you ask me, and seagate isn't working towards SSD as far as I know. So we can see more reports like that from them.

[Murasaki]

Their drives are crap so best they stay away from SSDs.

[AresKrieger]

Well HDD are beginning to become obsolete so it's not a surprise they've had to cut back

 

 

 

Side note: I know in Spanish speaking countries 6.500 was six thousand 500 but was unaware this wasn't just a Spanish thing, learned something new I guess.

[Guest]

8 minutes ago, ModuleLFS said:

Their drives are crap so best they stay away from SSDs.

Nothing wrong with them.

[Notional]

Seagate is gone in 5-10 years. They will continue to diminish, only relying on high capacity backup drives. But even those will be surpassed by SSD's soon anyways. Mechanical HDD's are a thing of the past, and will be phased out over the next 5-10 years. Seagate didn't buy an SSD company like Western Digital did, and they will fall as a result.

[Nup]

6 minutes ago, AresKrieger said:

Well HDD are beginning to become obsolete so it's not a surprise they've had to cut back

 

 

 

Side note: I know in Spanish speaking countries 6.500 was six thousand 500 but was unaware this wasn't just a Spanish thing, learned something new I guess.

Same, I thought it was only francophones! 

[patrickjp93]

12 minutes ago, Simon771 said:

SSD are taking over the market.

Today you can get 960GB SSD for 130$.

 

Slowly HDD will become thing of the past if you ask me, and seagate isn't working towards SSD as far as I know. So we can see more reports like that from them.

Where?! The best deals I can find are still just over $200!

 

That said, Samsung just began selling 16TB SSDs in a "thick" 2.5" form factor (can still fit 2 in a 3.5" bay if you turn them 90*), so yeah, HDDs have fallen behind on storage density by an enormous factor. If the cost/GB gets anywhere near parity to HDDs with the incredible performance consistency of SSDs, then it will be over for HDDs. Archiving is still best done on tape drives anyway.

[Simon771]

2 minutes ago, patrickjp93 said:

Where?! The best deals I can find are still just over $200!

 

That said, Samsung just began selling 16TB SSDs in a "thick" 2.5" form factor (can still fit 2 in a 3.5" bay if you turn them 90*), so yeah, HDDs have fallen behind on storage density by an enormous factor. If the cost/GB gets anywhere near parity to HDDs with the incredible performance consistency of SSDs, then it will be over for HDDs. Archiving is still best done on tape drives anyway.

Amazon prime sale or something like that.

Some user posted it on our forum.

 

Not sure if it's a good SSD, but it's brand new

 

16TB SSD ... well that's a lot lol.

I just hope prices will keep dropping  

[exyia]

sighhhhhh

 

dear young sensationalist posters on LTT

 

"Fired" has a hugely different connotation than "laid off"

 

Please use them correctly. It is very disrespectful to the now unfortunately unemployed to label them as "fired"

[Misanthrope]

This is what happens when you do not embrace new technology and start transitioning. Whoever thought "Yeah ssds will never become a credible challenge to our business" is basically responsible for this.

[Maslofski]

14 minutes ago, AresKrieger said:

Well HDD are beginning to become obsolete so it's not a surprise they've had to cut back

 

 

 

Side note: I know in Spanish speaking countries 6.500 was six thousand 500 but was unaware this wasn't just a Spanish thing, learned something new I guess.

i think its a european thing, ive only seen 6,500 in america, south america and central america

[HarmFull]

5 minutes ago, Maslofski said:

i think its a european thing, ive only seen 6,500 in america, south america and central america

Sorry, I'm dutch, so yeah it's sometimes confusing for me which one to use.

 

I've edited them now. I guess it's a european thing then as well.

[AresKrieger]

2 minutes ago, HarmFull said:

Sorry, I'm dutch, so yeah it's sometimes confusing for me which one to use.

 

I've edited them now. I guess it's a european thing then as well.

I wasn't trying to get you to change it, just saying it was interesting is all, generally the context makes it obvious which one is being used.

[Shimejii]

HDD's will always serve a purpose, the data on them can last an extreemly long time on a shelf.

[Maslofski]

5 hours ago, HarmFull said:

Sorry, I'm dutch, so yeah it's sometimes confusing for me which one to use.

 

I've edited them now. I guess it's a european thing then as well.

totally, I learned with the EU system, moved to the american system and now back to UE system

[Unhelpful]

5 hours ago, patrickjp93 said:

Where?! The best deals I can find are still just over $200!

http://www.newegg.com/Product/Product.aspx?Item=N82E16820173013&nm_mc=KNC-GoogleAdwords-PC&cm_mmc=KNC-GoogleAdwords-PC-_-pla-_-Solid+State+Disk-_-N82E16820173013&gclid=CjwKEAjwqpK8BRD7ua-U0orrgkESJADlN3YBznY79ObghSq8vU5WVOC7TlAEadmiAC7Bl9q6DKHnrBoCSZ7w_wcB&gclsrc=aw.ds

 

Not 1tb, 960gb. Still. 

[deviant88]

5 hours ago, patrickjp93 said:

Where?! The best deals I can find are still just over $200!

 

That said, Samsung just began selling 16TB SSDs in a "thick" 2.5" form factor (can still fit 2 in a 3.5" bay if you turn them 90*), so yeah, HDDs have fallen behind on storage density by an enormous factor. If the cost/GB gets anywhere near parity to HDDs with the incredible performance consistency of SSDs, then it will be over for HDDs. Archiving is still best done on tape drives anyway.

 

you could 2x 480gb raid anyday, and gain performance and life span i guess, hope filtering shows http://www.newegg.com/Product/ProductList.aspx?Submit=ENE&IsNodeId=1&N=100011693 4027 600414919

 

or http://www.newegg.com/Product/Product.aspx?Item=N82E16820173013

 

only problem could be if you have notebook and you need 1 TB drive

 

[Nineshadow]

15 minutes ago, JoeyDM said:

http://www.newegg.com/Product/Product.aspx?Item=N82E16820173013&nm_mc=KNC-GoogleAdwords-PC&cm_mmc=KNC-GoogleAdwords-PC-_-pla-_-Solid+State+Disk-_-N82E16820173013&gclid=CjwKEAjwqpK8BRD7ua-U0orrgkESJADlN3YBznY79ObghSq8vU5WVOC7TlAEadmiAC7Bl9q6DKHnrBoCSZ7w_wcB&gclsrc=aw.ds

 

Not 1tb, 960gb. Still. 

That is $350 here. God damn it.

[Unhelpful]

5 minutes ago, Nineshadow said:

That is $350 here. God damn it.

Ouch.

[alicskysareblue]

okey let's have an adult discussion 

That's an insane amount of layoffs. What country is this going to hit and what part of the company,, corporations. Usually. Layoff specific parts of the company. 

 

I feel for those employees I've been layoff and it sucked took two months To find another Job... 

[Dabombinable]

"Prolonged slump in demand", translation: people are keeping their Seagate drives cooled very well/have started rescuing Seagate HDD from poorly ventilated OEM 3.5" caddies.

[AlTech]

6 hours ago, HarmFull said:

Seagate is set to fire 6,500 people = 14% of total staff members.

 

Earlier in June it was pretty much announced that seagate would have to make cuts in their personnel, but it has since expanded on its previous announcement of 1,600 employees

 

source: Bloomberg http://www.bloomberg.com/news/articles/2016-07-11/seagate-expands-job-cuts-to-6-500-as-pc-component-market-suffers
 

 

source: The Next Web http://thenextweb.com/insider/2016/07/12/seagate-cutting-6500-jobs-even-though-expects-sell-hard-drives/#gref

 

They might expect more HDD sales, but I feel that they are realizing that HDD's are a thing of the past. As long as their CEO keeps boasting that HDD's are not a thing of the past, we can keep laughing I guess 

 

EDIT: I've changed 6.500 and 1.600 to 6,500 and 1,600 as some of you have pointed out. I'm european (dutch) so sorry for the inconvenience. Can't change the title though

You're title says "6.500". Change to "6,500" or "6500".

[AlTech]

6 hours ago, ModuleLFS said:

Their drives are crap so best they stay away from SSDs.

i have one and it's just fine. And also pls vote for what profile pic you liked the best from me.

 

 

[Tieox]

5 minutes ago, AluminiumTech said:

You're title says "6.500". Change to "6,500" or "6500".

I hardly think it's the crime of the century.

 

On-topic, SSD's are taking over, surely Seagate would have moved into the SSD market, or at least be looking to make the move?