Anyone notice how SVP of chem ops could not even say thank you to her team without reading notes. Same with SVP of business supply chain, reading from a script. They Can’t even make a recording sincere, no wonder employee surveys results were so bad…
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Can someone help to reconcile the facts? While m&m is telling wall street about the growth plan, yet tireman is planning on flat volumes in factories. Does both information gel together?
"Reason is if the factory volumes is assumed FLAT."
Wow, that is utterly shameful. US GDP growth is running above 5% last quarter and the best 3M can do is flat? Mainland China isn't great right now, but US/Canada and the EU are both decent to good and they are the majority of 3M's sales. This is just another reason Roman needs to go. If 3M can't grow in these economic conditions, the time really has come for 3M to die.
No change will come until the CEO grows a spine. This will not happen, with that said, keep your resume current. 3M Customers will of course drop off as the business continues to decline. Outsourcing literally everything isn't a business plan, it's a show. The failure is completely at the executive level. It's hard for them to hear this, but it's true.
Regarding whether layoffs will continue, Stefan did try to imply that it will continue. Reason is if the factory volumes is assumed FLAT, and net productivity expected 2%, where are they going to cut cost from? good chance they will layoff 2% people, make sense?
I am hearing that a lot of loyal 3M customers are seeing the bad headlines, the fall in stock price, the poor service etc etc, this is making them question their own future with staying loyal to 3M. They are starting to look elsewhere for materials or risk their own business getting caught up in it.
I've had long-time customers tell me that their recent experience with 3M isn't as good as it was even 5 years ago. We still have the highest prices, but service and quality have declined. We're slow to respond to their needs and they wonder if we still value their business. That tells me more about the state of the company than any internal metrics.
When Tireman was asked when is the 6000 restructuring has been completed, he doesn't want to give a straight answer. Instead he threw that question to Stefan. And that latter refuse to give a direct answer too. Loads of bullsh*t.
It’s pretty easy to make metrics look ‘good’. I say we ask our customers if the results are really speaking for them and if their metrics have improved?
Feel free to work up a 45 second address and post it anywhere on the web, most likely would look similar. I thought the town hall was informative. People on this site can bag on PG all they want but the results speak for themselves. Broad improvements across most of the metrics.
If you hate it so much, pony up and leave. You’re probably slowing the rest of us down anyway…
It was on Wednesday morning and yes it was very tone def. We are doomed.
When was this townhall?