What is the latest, my experience is that radio silence is never a good thing
10 replies (most recent on top)
New equipment being rolled out to employees in July. New post-spin domains already being setup as well as major spend on post-spin software licensing. SpinCo is happening.
Spin-co sounds like another litigation liability buffer. Probably sh-t they sold during covid that did nothing. There's also a ton of open jobs on indeed.
More heads will roll after that if it is acquired. Maybe that's why they are not setting up support services for Spinco, it will be the acquiring company that will provide them if an acquisition happens.
@Varys
I have heard another company will buy the SpinCo day 1. Kind of makes sense since leadership and critical organizational decisions have not been announced to this point.
“ Saw many employees being pushed to HCBG announcement this month “..against their will or knowledge?
Here’s the earlier discussion
Bringing thread Top - DoNot-Join - NewCo Healthcare
https://www.thelayoff.com/t/1mVncy7r
I read multiple earlier discussion that NewCo Healthcare is intended to take (transfer) employee liability which then can be dealt with later without much fanfare. Henceforth currently 3M employees are forced to move there or be fired. Getting fired from 3M would be much better option instead of some d-mb NewCo, I think.
Employees joining NewCo’s are in situation called - Head You loose, Tail I win.
My theory is 3M is desperately trying to find a buyer (or buyers) for HC.
The sale would give the shareholders cash (in form of SpinCo or Acquirer's stock) that would be immune from RemainCo's future bankruptcy.
My theory is it's pushed past Q1 then quietly does not happen.
Saw many employees being pushed to HCBG announcement this month