Leaked internal sourcing memo says that the change is happening August 15. Prior town halls suggest that there will still be a large R&D presence in Minnesota.
It's the same playbook
BB talks a good game just like Mike Roman did about growing organic sales and introducing new products. The playbook he is using is the same. 3M blew over a billion dollars buying there own stock between March 31'st and July. He let Gibbons put the... — read more
More Restructure Operations Implied
Interesting comments. It flat out sends a message to the external market and to internal foundation that more significant restructuring is coming immediately. However it is short sighted. 3M has spend decades optimizing operations, and designing... — read more
Don't work at 3M if you care about your career
Just a friendly warning to anybody who might be considering joining.
AIP
With such a good company performance till date 1H2024, does anyone knows if BGs have released the Q1 and Q2 AIP % results yet? Thanks
What do you think of this CEO comment from earnings transcript
While our network of 110 factories and 95 distribution centers have historically served 3M well, it is incredibly complex and interconnected, with most SKUs we produce touching multiple factories before reaching the customer. For example, a command... — read more
Who else feels completely burnt out?
I have no idea how much longer I can keep doing what I've been doing. I desperately need help but nobody seems interested in providing any. Our team lost five people in the last 12 months. It's not humane to expect us to pick up their work without... — read more
Netflix watch “dark waters” 3M PFOA
Series that brings to life 3M PFSO used at DuPont and devastating results for local farmers. Pass along to as many as you can.
What does good performance mean for us?
Can we expect a bit of peace and quiet? Better pay, benefits? My personal experience is whether the company is doing well or not, you as a worker are in peril anyway and will not reap the benefits but will always suffer the cost. I'm a newbie here... — read more
3M shares soar as strong results highlight cost cuts, growth push
3M's shares soared to a near two-year high on Friday following the industrial conglomerate's quarterly results that underscored its focus on investing in high-growth businesses and reigniting the company's storied history of product... — read more
3M smashes Q2 24 estimates
Off to a great start by new CEO
Osha
Busy in the plants. Equated them to sweat shops. Big yikes.
Fall
Appears all signs hint selling. Any info?
What’s the point of consultancies?
Even more of a tragedy many of those engagement managers: Haven't even been alive much more than 25 years, let alone have 25 years of experience Have never built anything more complex than cheap Ikea furniture Have never physically worked... — read more
What is McKinsey doing at 3M these days
Quite a few Engagement managers working directly with CEO. What are they up to ? They are listed as contract workers with direct report to the CEO . Check it out.
money is slowing syphoning out to pay claimants,
the real reason Monish has left is there will no money in the pot in 12/18 months, here is an update on why departments are being told to run down stock and stop new orders, 3M Earplug Lawsuit News July 16, 2024: 3M paid out $500 million yesterday... — read more
Treat you’re employees well and…
You’ll gain most their children as lifelong customers, treat them bad, you’ll likely gain resentment, 3M employees have some very successful influential employees, Decatur alone has 3or4 NFL starters… that’s one Monday night football interview away... — read more
Can't find a new job
I'm done with 3M. I've been looking for something else since the start of the year. I don't even know how many applications I've submitted and how many interviews I did in the past six months. I even made it to the final round a few times but I ended... — read more
Another SVP leaving
Global Logistics chief leaving for better opportunity
CIO/CIDO Needs to go
Mark isn’t the guy for the job. We need someone innovative that actually cares about the company. Mark only cares about himself. Imagine what could be done if we had a competent leader.
I need to get out right now before it's too late
Attrition has intensified recently because people are realizing there's no future at 3M. Everybody is seeing the writing on the wall and taking action. I'll be damned if I'm one of the last ones to stay on this sinking ship. The first proper job... — read more
Change in leadership, layoffs next?
Every time I see somebody from C-suite/upper mgmt gone, regardless of how bad they were and all of us having all kinds of reasons to be happy for seeing them out, I’m also anxious because new mgmt comes in with a pomp and announces overhauls, reorgs... — read more
CFO
3M, Inc. (MMM) announced Wednesday the resignation of Monish Patolawala, President and Chief Financial Officer, effective July 31, 2024, to pursue another opportunity. Patolawala will stay on through July 31, 2024, to ensure an orderly transition.
One Down, Tireman to Go
Mr. Brown doing some housecleaning or Money-Money got a better offer?
CBG
Rumors about CBG? No growth, no NPIs…
How 3M Executives Convinced a Scientist the Forever Chemicals She Found in Human Blood Were Safe
If you are a current or former 3Mer, I encourage you to read this informative article from the Tribune about PFAS and 3M. It's disheartening to see an article highlighting 3M's ethics, especially as I, along with many others, was once a proud... — read more
CEO Travel
It is curious to me how much it is costing the company for the CEO to travel. He has flown into several cities, visited a plant for a few hours to give some sort of feedback, then he is on his way. Who knows what this brief assessment will bring to... — read more
Divestitures
What goes and what will be the “core” ?
We haven't invented anything worth mentioning in decades
3M stopped being an innovative company a long time ago. Now, we just buy other companies for their IP portfolio, and then try to part it out and sell off collections of complimentary tech. Anyone still expecting our R&D to make a comeback... — read more
CIO needs to go
Incompetent leader who cripples innovation because he learned the %'s quoted in every pocket MBA book. CTO unable to move any R&D initiative forward unless it has an ROI that is approved by the CIO. 4% R&D expense to revenue corrupted by M&A... — read more
Pension
Good move
June ETF
With the last month of Q2 to go, it's seems the factory (large plant) is having significant demand being pushed out. Wonder if the rest of you are also seeing the same trend? Any potential layoffs in 2024?