Other tech companies should do the same
I always see the lower ranks cut, but I rarely see companies doing anything at exec level, other than shuffling the deck chairs. Sorry for those that are losing their jobs, but good for Seagate.
Seagate has given several execs the boot, including consumer products divisional president Brian Dexheimer, whose division's products didn't exactly set the world on fire. According to an SEC filing Dexheimer will leave his post at the end of the financial year, June 30, to effect a smooth transition, following which there …
It's never good when folk lose their jobs, but at least Seagate is addressing the problem properly. Take a look at the likes of DSGi - when they need to save money or restructure they lay off shop workers and call-centre staff. The fat-cats at the top still get their bonuses and salaries.
UK companies take note...
"The fat-cats at the top still get their bonuses and salaries"
UK shareholders vote to allow it - mostly via the large investment funds (Pensions etc.). They vote to allow the renumeration committees to continue and in turn these guys vote large bonuses.
We should be putting pressure on our investment funds / pension funds to act with vigor but it won't work - these guys scratch each other's backs.
I applaud Segate as long as this is not some sort of political revenge...
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