Token under 40 in a group of 50s and 60 years old that were laid off for 3M to conceal their age discrimination. Work dumped on others who are looking for the door. Applied to dozens of internal reqs., not one interview because of my status. But after seeing the last huddle where the only thing Roman cares about was sustainability and carbon footprint (forget growth) I realize there are far better companies out there than this disaster. Good luck out there.
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Sadly its shown in its stock price and (lack of) investors confidence
Today it is still languishing at $170+, far cry from its peak at $260.
Its poor performance considering both DOW and S&P are near their all time high.
Ah the directors and up. What a sad bunch that have been here too long, have made NO positive impact, spend company funds lavishly on ‘business’ trips and international travel, dinners, customer entertainment, and are essentially just ‘yes’ men and women that backstab good employees because they don’t like how people dress (not kidding), their politics, religion, gender, and not ‘messing them back. Lots of secrets here....time to REALLY clean house and start at the top.
@1aeu+19EayWVm - Agree. I really don't think Mike Roman has a clue. He talks in circles about Advance 3M and what that means. He tries to distinguish layoffs due to downtowns from layoffs due to restructuring and then says that layoffs due to restructuring are going to unlock profitability AND growth under the new organization??? He seems like a smart enough guy, I just think there's no vision from him, no real leadership that can help the company grow, and employees and investors probably have little confidence in him. Just in over his head from day one, and definitely not up to the very difficult challenges 3M and many other companies have been faced with for the last couple years. He's still getting paid a ton and so are his executives from the director level on up, so I'm sure everything is fine in his world as long as the board of directors and big investors allow him to keep fumbling along.
when the new CEO took over, he focus on those non growth related stuff like, Culture, Constant restructuring, and now talking about doing big about environment. when will they focus back on business growth?
If you spend 1 billion on the environment, no one pays attention to all the bad things you’ve been doing. Smoke and mirrors my friends
All of 3M's talk about ethics, integrity, and doing the right thing are a joke. The company is eliminating highly paid senior employees simply to shed their salaries without regard for their service, loyalty, and performance. I am sure that they have enough "tokens" mixed in to protect themselves legally, and the packages they offer require a release of liability so the company can't be challenged for discrimination. Maybe no different than what other companies do, but it's particularly appalling given all of 3M's talk about being such a great corporate citizen. Some of the company's moves regarding carbon footprint, sustainability, and inclusion appear to be simply a big PR story in light of the massive PFAS potential liability and the systematic age discrimination that has surfaced over the last three years.
Why does he want to spend $1 bil on environment?
What about investment in growth of business which is fundamental?
Same here. Highest rated, but couched in with the others to conceal age discrimination. No direction, no focus, no growth. Plenty of $ wasted on unnecessary management in Consumer though.