Topics regarding layoffs at 3M

Topics regarding layoffs at 3M

They keep lying

They keep lying to us in meetings. Didn't talk about any substance of layoffs. No details. Hardly said a word. Now they bring up correlation between upcoming automation and the recent bad news but have the audacity to say our jobs are safe for next... — read more 

Can 3M use the restructuring charge to deleverage debt?

Restructuring charge for debt deleveraging? Or is it Blockrock that’s repurchasing our debt and gaining more equity? Also, with this new A3M/Not A3M alignment is seems like it’s positioning certain business parts for sale, am I right?

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| 1570 views | | 5 replies (last May 3, 2023)
Post ID: @OP+1mrm2Qv7

Reducing severance

How much is severance? Is it true that it is less than previous layoffs?

What becomes of Maplewood itself?

With 3M cutting a lot of jobs at the site, what's going to happen to the city itself? Back in the 80s, it was considered a decent place to work and live. Then people started moving to Woodbury for more upscale living. Wonder what tax hit this... — read more 

9.6 million US job openings

The unemployment rate is expected to blip up to 3.6% in April, a couple of notches above January's half-century low 3.4% “Roman’s My Way” And now, the end is near 3M faces the final curtain My friend, I'll say it clear I'll state my case, of which... — read more 

Mike's Around the World Non-Apology Tour 2023

Alternatively titled the 'Fails Tour'. While us minions await our severances. That fool Roman has been getting jet time in. His tour so far: St. Paul to Tokyo (fuel stop in Anchorage) - Tokyo to Seoul - Seoul to Europe (fuel stop in... — read more 

How are we viewed in the market?

It is comforting to hear people say that in general we have a reputation as good and quality workers on the job market, and I hope that is true.

1100 @ the center

https://www.fox9.com/news/3m-lays-off-1100-people-at-maplewood-headquarters

260,000 earplug claimants

3M has lost 10 of 16 of the ear plug cases, with the average claimant being awarded $26 million thus far. It is estimated that the remaining 260,000 claims will be settled for between $40k and $500k. So on the low end the company will be paying out... — read more 

6,000 layoffs

From what I've seen 3M is laying off sales force, talent acquisition, and some business transformation roles. So is the plan to stop selling product, stop hiring/recruiting students, and pause BT for the rest of the manufacturing plants who haven't... — read more 

PFAS product list

For those who are left on the 3M Titanic, take a good hard look at the PFAS product list that was posted/buried on the 3M website in December. You can’t search it (that’s intentional no doubt) but odds are that among the 15,000 products affected... — read more 

RTUs

If you have not, everyone should have sold all of their RTUs by now . This stock is about to barrel down past $100 and never come back.

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| 1821 views | | 7 replies (last May 2, 2023)
Post ID: @OP+1mptY5sC

For those staying on the sinking ship

Everyone should most definitely have a base, updated version of your resume. Bonus would be to have a few different versions that shift a bit based on type of role you apply for. Everyone should have a 3 month emergency fund that is super liquid... — read more 

They created such a culture

It's sad to watch those at the top leading this place straight to the bottom. I don't think they realize that they have created a culture in which most of the employees are milking this company while they look for new opportunities outside. What... — read more 

For those who are still on GESPP

I hope you have stopped all GESPP contributions and ride out the 1 year holding period to sell everything on hand. This counter is going downhill after the divorce. Good luck

ISD=IMT

Industrial Specialties Division = Island of Misfit Toys. Holding spot where abandoned 3M businesses go to die. I hope Rudolph and Hermey the Dentist can arrive in time to save them (apologies to those who don’t recognize this reference from Rudolph... — read more 

Production

How many production workers will be affected

Massive hits to US SIBG today

Here to say that some of the best of the best were let go today. All different ages and experience levels - S5’s, super achievers, key account account leads. Estimating a 30% reduction in the field, if not more. They’re more then just colleagues... — read more 

It's Happy Hour time in Maplewood!

Very sad for those who did or will lose their jobs during this mass insanity (again). However, since the weekend is underway, anyone want to share a favorite memory and perhaps timeframe from Tartan or 3M Club or even wonewok if you got to... — read more 

Voluntary early retirement

On a similar note, I don't understand why 3M isn't using voluntary early retirement incentives. I know this was discussed a month or two on this site, but it seems so bizarre that 3M wouldn't pursue this mechanism which would limit liability... — read more 

The very best summary of cratering 3M!

"There have been countless efficiency initiatives here, and little to show for it over the years,” JPMorgan analyst Steve Tusa wrote in research note. “This seems like more of the same.” Finally, an analyst who hasn't been drinking Mike and Monis... — read more 

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| 2420 views | | 4 replies (last April 29, 2023)
Post ID: @OP+1mmoBsgZ

We should be safe until Monday

I think we're done with layoffs for this week only. Friday is not the usual day for layoffs, so I think that anything further they have planned will most likely wait until Monday. This is my own speculation, though, based on my long history with... — read more 

Any actual layoff info?

Does anyone share actual layoff information on this site? I know layoffs must be actually happening and I'm coming to this site in hopes of learning some of the details, but all I see posted is everything except actual layoff information. If you... — read more 

Waiting for package

It is clear that the company would like us to leave without giving us packages. On the other hand, considering that looking for a new job while you have a job is always a better option than putting yourself in danger of looking for a job when you... — read more 

Q3 2027 Earnings Call Update

Mike and Monish are the only 2 remaining 3M employees. The plants have been shuttered for a year, 3M's brand has gone the way of Sears/GE and most manufacturing assets have been sold to companies in Vietnam or the Philippines. Wonewok was purchased... — read more 

Lawyer needed if accepting terms of layoff?

Is a lawyer needed to look at this if I am going to accept the severance? This looks to be very boilerplate and there was zero intrest in any negotiation. Has anyone been successful that has been laid off from 3M to improve the exit package, that... — read more 

Timeline Details

If we don't find out this week that we are laid off are we safe or is the bigger axe going to fall next week too?

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