Do you think there may be small/medium/large Medtronic layoffs? Any chatter, news or rumors?
47 replies (most recent on top)
@4m7e I agree. The only employees left will be contractors in India and the executives.
@2nzco I am a white male who experienced the same at Medtronic Between 2003 and 2014. The layoffs and Firings were almost always white males.
Medtronic's manufacturing process and product quality control is at least 30 years behind automotive industry performance. It is no surprise that Medtronic has begun a downward spiral. Making the remaining employees work harder will not resolve the underlying systemic problems.
@2wxmq+1jUJmKDq I’m sorry to hear that. I hope she’s able to find an even better career with a more deserving company.
my niece just lost her job at Medtronic. She thinks they are letting 10,000 go. She was the breadwinner in the family (worthless husband)
Not surprising! MDT has gone downhill the last 3-4 years. Ever since Geoff Martha took the reign. Plus a company who puts the WOKE movement and only promotes based on WOKE and not the employees who have the skill set and performance to do the job, you will have problems. I am a female who is a diversity candidate(Been with MDT for 20+ years); and I would NOT want to be chosen over a white male or white female who is not as diverse if they were the more qualified person. MDT in the last two years has promoted many who met the WOKE criteria but were absolutely not qualified; and some I have seen promoted who even had red flags or were not viewed well by their peers or colleagues. However they were pushed thru or hired because the person hiring or for MDT shareholders felt the need to be viewed as a company that supports all.. but should we do this even when someone is not qualified to do the job?
My organization laid off 4 people in Aortic Quality this week, including the quality leader, guess what, all 4 were male, 2 white male over 40 who were excellent workers and leaders with many accolades to show for it, this company is a total joke, many incompetent non white males given preferential treatment just to hit a stupid internal metric. If you have a white male child please do not send them to med devices, if you do certainly not Medtronic, it’s the most inequitable company out there,
We need a better leader; Geoff Martha is not a good leader.
Chief Quality Officer Scott Cundy said in our Global Quality town hall today that more layoffs are still coming. No specific timing given.
We just had our department quarterly town hall and our VP was not reassuring. They did say they know things but cannot share anything and that everyone across MDT will be affected by the layoffs. I’m an individual contributor with a very busy workload and was not worried about layoffs until they shared that all areas will be affected and the layoff decisions may not make sense to us. :(
The supply chain and sourcing groups needs to be held accountable for backorder issues yet they have determined to be immune to these layoffs. They are the biggest contributor to our poor performance. Greg Smith and Geoff Martha need to go. They are encouraging this terrible behavior. Board step up and save this company.
Our leadership is a joke. Geoff coming from GE will nose dive Medtronic into the ground, just like GE. We have zero leaders in our organization to steer us in the right direction, yet we have many individual contributors yelling from the mountain tops what to do, but are constantly ignored since we are not the the boys club. The board seriously needs to rethink their CEO and leadership team. I would not invest in Medtronic even being employee here.
Medtronic has spent the past few years NOT being a med-tech company and developing life-saving therapeutics according to our founder's mission but instead promoted people who lacked the skills to lead. What happens when you promote not based on merit but on a self-proclaimed agenda? You end up sabotaging your organization. Where are the intelligent people willing to make tough decisions? They left Medtronic because you would not promote them. Diversity and inclusion are fine, but not at the expense of meritocracy. Result: Stock price plummeted, layoffs across business units, competition surpassing our technology, and Geoff Martha holding the smoking g-n.
To the previous commenter:
Yeah, you failed at giving a meaningful definition to wokeness. You just described arrogance.
There are probably many factors but I think Medtronic lost its focus on its mission and shifted to social justice for sure. And to the previous post I will take a stab at defining wokeness: it’s a way for certain people to altruistically and arrogantly posture, overcorrect and pretend like all that walked the earth before them were ignorant and unaware……which in itself is ignorant and unaware. MDT played that role very thinly disguised, while pushing their ‘just’ agenda, all while being run by the whitest of the white, Geoff-if all that you speak is so important to the company then why not be a real leader and give up your seat to a woman or person of color? Stick to business.
Literally everyone complaining about white people getting canned or “wokeness” are complete and total more ons. People are losing their livelihoods because capitalists don’t want to see a minor reduction in profit and all you clowns can muster is complaints about “wokeness”, which not a single one of you would even be able to define anyway? Pathetic.
Layoffs at Medtronic and Medtronic Care Management Services have begun. They are trying to reduce staff by 8000 worldwide. Both Medtronic and Medtronic Care Management Services are now fully integrated with a off shore consulting company called TATA and no longer are using us resources for development. They have off shored most of the development, project lead work, but still keeping some in US as contractors for managers. They hire the contractors for 18 months then give them 60 days off and rehire them for 18 months again. MDT was a good company but now I would say that has past.
Wife was laid off two weeks ago. White female over 55.
Will the Severance with RIF be more than the VERP?
Those of us who are not victims of systemic racism are S.O.L. How does a company get to preferentially fire white males?
It used to be a company that was engineering focussed. Now it's like any other exGE CEO company. Focus on mergers and buybacks when capital is cheap instead of building the organization and making it efficient. Focus on EPS and what the street wants to hear robotics, ai chips, digital and throw pennies at the effort. Then when the going gets tough fire people and rinse and repeat and claim that it was really hard to do this. Instead of actually managing.
CTOR roles are d-mb. Not doing actual work but scheduling meetings like PMs. These roles should be removed first and make the team lean to be efficient. Too many PMs everywhere.
Too many sites bloated with too much staff with no productivity. Sites like diabetes, Minnesota sites, and Colorado sites need to dump the redundant stuff. Waste of money and resources, no wonder people don’t invest in our company. Tech level layoffs imminent.
Medtronic has lost its vision - Geoff Martha is trying to become the most “WOKE” CEO in the country. When you tell the employees that it’s his goal to have 75% of management consist of women and people of color, you’ve lost the vision of the Medtronic Mission! It’s a shame he’s driven this company so far down it’s going to be hard to recover .
Id--t leadership, what company in their right mind would be continuing to invest in robotics when hospitals are cutting back on large capital investments? Sell your money makers, not your d-mb shiny toys. It’s decisions like these that result in imminent layoffs and poor financial performance.
Layoffs are happening as we speak. Quality organizations have “reorg’d” today resulting is folks being let go. Our leadership is a joke, while competitors did well, our leadership sat on their hands. The fat trimming begins, starting with the disasterous sourcing organization. What an embarrassment working for this company.
The early retirement package does not include severance. Not sure that too many takers.
Letters of early retirement package are out. People are starting to panic.
VERPs go out tomorrow for employees 54+
OK- so Medtronic promotes based on s-x (Female) and minority status. That discriminates against men. Now the day of reckoning has arrived.
Yipppe VERP can not wait !!!! I'm ready to bail.
Retirement packages go out next week. If they don’t get the numbers they will RIF
They should start with shutting down the entire North Haven operation, way too many overpaid people in there.
3 months in at MDT... Am i considered a goner?
There will be massive layoffs at Medtronic at the end of the 2023 Fiscal Year.
Diabetes management needs to go if Medtronic will ever take advantage of the huge opportunities in the market. Management has become corrupted and operates as a mafia. They are disconnected from the essential purpose, which is to provide effective treatments for the patients, and instead they have used their employment to advance their personal agenda.
Why does GM promise unobtainable goals and then fail to meet them quarter after quarter?
Has MIP ever been literally zero in the last five years? I knew we were at risk due to the EPS gatekeeper. All this "transformation" and we shot ourselves in the foot with an unobtainable goals. I think people are on the edge of heading for the door already, zero MIP isn't going to help with that.
The MIP bonuses might not pay out at all this year because of the missed EPS.
Rumors of imminent reorg in Surgical