After the earnings and stock drop today layoffs are guaranteed to come in April. There really is no choice. I personally think it will be a blood bath, probably 5% minimum but maybe 10 %.
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One could only hope that they're optimizing and streamlining our change processes and supply control. But management really doesn't work on that either, they just divvy it out to siloed teams that have no experience with the product and it goes nowhere for 4 years.
My boss has a meeting called optimization review. Next week
I wonder what they are trying to optimize?
No gives a sh!t about the OHS.
The reported survey results are not the ones that ELT reads.
They will bell curve the negative results and label them as inputs from disgruntled employees and remove those from the results. Yes, the new survey may skew 10-15 bp down but it will still be rainbow and sunshine when each BU reports out.
First time I didn't give a stellar OHS review was the year I found myself on the cut list...
It's going to be brutal this year. I'm already working the job of 3 people. How much longer can Medtronic sustain the "work better, with less" mentality?
As we prepare to be dismissed, let’s make sure to really stick it to them in the OHS!
So when will our leadership be RIF? The common denominator is GM.
Everybody, brush up on your resume and start sending it out. Get ready for cut backs
Which division in CST will be cut? I thought Skipp said CST broke records.
R&D, NPD, Ops in North Haven got hit hard. They’ve cancelled every project in the pipeline for surgical, other than robotics, and they’ve decided to put all funding/resources into robotics going forward. I foresee MDT putting all of their eggs into the robotics basket, which I don’t think will go well.
I see CST getting thinned out to make it more attractive as a spin off or Phillips acquisition. Way too bloated right now.
My department was told by leadership late last week that "this" "is what happens when you miss revenue and work for a publicly-traded company." So reassuring.
Does anyone have insight into CST and specific departments or projects? Leadership is looking very distressed lately.
Man they keep getting worse. I'm sorry for yall going through this. As a former employee who was cut back in Feb 2023 alot of us were cut around the same time. We loved our job and what we did for the patients yet we know the story management cared more about "being in office & team building" when all stats showed that working from home we were more productive instead of dealing with the d-mb office politics working in Processing. To hear how things are going with some still there is heartbreaking. Glad they have a job yet they are suffering. Update your resumes and prepare to turn the page. Be encouraged for your future.
I saw my boss has a meeting named “headcount review” next week（NM/PH R&D）
So Surgical was this week. When do the rest of us come due?
There's still too much overhead and waste.
All levels should be tanked.
Yes, their were layoffs in North Haven, both in NPD Operations & R&D. Hear 40 individuals. Heard that their were a few leadership Surgical OU positions impacted as well. This was after layoffs in Plant QA last week.
Is this news about surgical layoffs real? Haven’t heard anything yet
Can confirm five people in the Lafayette site, all R&D engineers.
Approx 25 impacted today is what I heard. Best wishes to all affected
Start applying elsewhere now if you are worried or unhappy. This is the way.
Fu-k this place. I am interviewing with Boston Scientific soon.
I am in allegedly one of the best groups to, at least in terms of growth and excitement.
If its a disaster here it's gotta be bad in other groups.
How many in North Haven & which roles?
Layoffs in Surgical today, North Haven
- Do not stress. There is nothing you can do at this point so there is no reason to stress out.
- If you are going to get cut there won’t be notice. It will be midweek and you will get a random meeting invite with management the night before.
- contractors are normally first to go. They will either get cut, they will be put on “unpaid leave” or their contract will not be resigned.
- If you are cut this isn’t the place you want to be. If you make it thru a layoff all it means is you will be working harder with less support moving forward.
- if your division didn’t hit its numbers and projects are “being put on hold” start updating your resume and reaching out to contacts outside your division/medtronic.
- All careers have ups and downs. If cut the world is not ending, it’s just time to turn the page.
- there is nothing to be embarrassed about, your coworkers will miss you more then you would believe.
- worst case senerio is a paid summer off, it could worse.
- Martha will still be running the show so it’s only going to get worse.
Each bu and org has to make its numbers. If an org has a rif planned, it may have exactly zero impact on another org.
So dont panic based on some rando rumor on an Internet forum.
And yes traditionally larger rifs happen in April, because next fiscal year targets are defined late in the prior fiscal
what should I do？
Who delivers the news? Manager? One over manager? Someone else?
I keep see a mention that they will be in February, but they are historically always in April so we have two months to go here!
Based on conversations with my manager, it feels like it is going to happen very soon for me. He keeps checking in to ask if I will finish my outstanding deliverables this week. This is unusual behavior.
Ok so I talked with a VP friend and he said that they are going to do the following in layoffs:
1a). Workers who have really bad office attendance
1b). Low performers.
Group 1 will make up 50 percent of all the layoffs.
- canceled projects. This group will make up 40 percent of the layoffs. In this group everyone will go, even high performers. A few well connected guys can be spared in back room deals.
- . Group 3: general random pruning- the seemingly random workers that don’t make any sense to let go but will get laid off anyways to add variety across the enterprise. 10% here.
One of our leaders constantly tells us “no one is keeping you here” in response to the poor OHS surveys in their umbrella. This person should not be in leadership.
We missed revenue not earnings. Layoffs don’t fix a revenue miss.
In this malaise state medtronic is using sub vp promotions d useless reporting changes to keep people from leaving- which doesn’t help the people who do the real work at all.
In the same boat, I have a manager and senior manager, they report to a director then a senior director who reports to a VP and then a senior VP .. and upwards . I only talked to the diretor once and they got my name wrong. It is what it is ... IMHO
Here we go again. We, the workers, get punished not the executives and VP. This is ridiculous.
I volunteered the other day.
Over 20 years with the company. I have had an amazing technical career with Medtronic, innovated, designed, every review I have ever had has been exceeds expectations or better, worked with amazing people and I just can’t take it anymore.
I have had numerous one overs, all director level, since the pandemic, and I have never met a single one in person. I have only spoken to one, once, ever. In our meeting he told me to look outside the company if I was unhappy.
I love my work, but I cannot keep doing these things for mediocre pay and raises that do not come close to keeping up with inflation. Mostly, I cannot keep doing it for people that don’t care if I am even alive.
A manager, a director, a VP should want his or her people to succeed, not languish so they can make their numbers.
So yeah, take my year of pay, if I can, and move on down the road.
oh no