Thread regarding 3M layoffs

Roman and Patolawala (known as the 3M consigliere) are in over their heads. Collectively and independently, they have put 3M on what could be an unrecoverable trajectory toward divestiture.

anyone thinks the share price will tank below $100 if Tireman takes over as CEO as ParentCo?

I thought maybe MP had chewed out the Huddle presenters right before huddling went live. Tension in the air seemed afoot. Body language speaks volumes. The excessive blinking by MR tells me he himself doesn't even believe the nonsense he's speaking. For being excited about 3M's future, they seemed as excited as a heart attack.

To "tire man is king": when can we expect this horrific news to go public internally?

Post ID: @1irb+1jJuzKc7

How about M.P?

not rumours anymore , MR Is going to C.E.O. Healthcare and Gibbons is new 3M C.E.O. effective 31st January 2023. A lot more layoffs coming in the new year so beware, Still excited,

61-year-old career MMMer here.

1. pension reduced
2. 401K savings dropped 30%
3. Property value plummeting
4. Inflation taking the little cash leftover at the end of the month
5. Raises lower than inflation rate
6. Reduced medical benefits
7. Difficult to find new employment
8. Violent crime on the rise
9. No confidence in the governemnt
10. State of Minnesota has $10B surplus

I agree with @1xpl+1jJuzKc7. He’s never really ever exuded the confidence with employees or investors that is typically front and center for CEOs running major companies, but he’s been particularly uncomfortable and lacking in confidence in his last several huddles. Why is that? My guess is that he knows what a complete mess he’s created and that he is not now and never has been up to the 3M CEO job. He knows he’s out of answers and things are just happening around him that he had little or no control over. If he’s really introspective and can look past his ego, which I highly doubt, he should be sad about not only the stock price under his watch, but about the destruction of a unique culture and a workplace with loyal employees who saw 3M as a place to spend an entire career. It really is time for him to move on, but it hasn’t happened yet, it’s hard to see how and when it will happen.

The Q4 EO townhall didn't fare well also. Lots of negative sentiments from the ground. Many questions unanswered.

The tireman doesn't look he will last long in this role.

Expect another restructuring exercise 18-24 months from now.

Just an observation. The November CEO Huddle presenters looked really uncomfortable and lots of hand gesturing going on. They didn't sound confident in the plan being presented. Seemed nervous all around!

Yup, been looking forward to my 10 year banquet. Nope 3m has canceled all anniversary dinners and celebrations. Going down hill fast, oh and they never told anyone we find out by them not inviting us on our 10 year.

no service dinners and no incentives for the low paid,

it was frustrating to watch, how can Mr Gibbons be getting so excited, incentives taken off production employees from the last few years and then he comes out saying this, hard to swallow this exciting talk, anyway moving on

Oh. You are so caring. Thanks very much

Exciting my foot.

People are losing their jobs, and the executives are excited?

Exciting when they think about their bonuses. Even top performers won’t get any benefits from AIP because they have included company performance as multiplier. These all metrics are for their advantage.

Roman and his consigliere Patolawala are scoundrels.