> "The restructuring is expected to cost the company about $164 million in pre-tax charges during fiscal 2017, $82 million of which will be employee termination costs"
$82000000/6500 = $12615
Average severance of 12.6k per employee seems rough.
Why is the stock up following news of a layoff?
(Honest question, I'm clueless about the financial market)
Wow, that's a really huge number of jobs; hopefully everyone lands on their feet.
If you want to know more, I suggest checking out this site:
https://www.thelayoff.com/seagate-technology
People at my company had said they don't lay people off. I found otherwise on thelayoff, so I check it periodically to see if there's anything to worry about.
It is possible that like Foxconn, they are depending more on robots for their manufacturing. Perhaps they're preparing themselves to be bought out.
How does this affect Seagate's downwards trending quality?
I got this kind of impression from Backblaze durability statistics, personal experiences have also been bad lately.
I do remember time when Seagate meant quality, but that ended when they bought Maxtor.