In the company wide Bill Brown talks first week at 3M 2 minute video, He state's "Our 60,000 plus employees."
We always had 90,000 plus and now we lost a chunk to Solventum.
It was just shocking to hear that number.
13 replies (most recent on top)
What are your impressions about the new CEO?
Seriously, give up on the name hijacking. Even if you want another GoT reference there are still plenty of good ones out there, go claim one of your own.
50,000 is the target
We all know that the Go Pete and Vale fanboy are just trolling, but a lot of people have actually lost a lot in this mess, so it would be nice if you would both just p1ss off (assuming it's not just the same guy, which it probably is)
Most 30 yrs employees are in high levels; director, VP. They are no longer competent and very conservative in decision. Once 3M goes thru restructured, they are the ones who can avoid layoffs because they just turn in their direct reports for layoffs so to save their spot. Don’t trust your boss or boss boss.
They are already starting flushing out by removing the LTI from the 14/15's
We should be seeing an exodus of the good talents at these levels
Once we sever all 30+ year employees, we should be right-sized.
Looks like 50,000 employees could be the comfortable number for remainCo
What do you mean by "lost a chunk to Solventum"? Remember that mother mining cut out Solventum and drove them out of the company in exchange for an instant cash injection of almost $8B!
Typically, during breakups companies shed another 10 to 20 percent by eliminating "stranded costs" from more centralized functions. Using 15 percent as the midpoint, that means another 9k will be dumped. Even though Pete has already slashed gobs, don't think Brownie isn't going to get in his licks to show WS he's "cost focused" kind of guy.
Thank goodness I got out three years ago and with medical and a pension. GLTA who are left.
Recalled that company had so many yearly layoffs for past 5 years. MTE, R&D, BT, LSS, LVS, sourcing, etc etc .. many casualties .. therefore its not surprising to see the number dwindle to 60k post spin off. Next company is outsourcing facility, and further BT reduction... probably heading for 50k ......
Seems right in line with the number that went with Solventum and then we probably lost the additional through layoff/retirement/leaving and not replacing
If 22000 went to Solventum and there's been so many layoffs over the years (1500, 2500, 6000, some other number) why is it so surprising to hear 60000? I thought I remembered 100000 10 or 15 years ago but this seems like a good estimate