Hearing rumors that lots of unwanted people are packed & packaged into this healthy business so that these “People Liability” are transferred to new Books and can be taken careOf i.e; DoNot Join if you have a choice.
Else good luck.
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It seems pretty obvious what has happened thus far:
Remainco told the HCBG "Pick the employees you want to take with you" Then when the time was up to send out the list the HCBG said "We want these employees" and then Remainco said "WHAT?!!! you need to take more! Take another week and choose some more before we send out the announcement".
Then, after that happened, Remainco told the HCBG "You need to take even more people" for whatever reason and this is why the "appointments" happened which we have been told are mostly not optional i.e. you may not have a job at 3M if you do not accept the appointment. This is a great way to force people to just quit and then not have to pay unemployment benefits, and it is working. People are giving up and finding jobs outside.
The appointments are basically being done because Remainco wants to get rid of more people instead of laying them off (and paying the unemployment benefits) and the HCBG has already passed on them twice, but are given no choice to not take them.
I still dont understand why anyone would want to take a job in Spinco - That list of the products that contain PFAS has a lot of them that are from the HCBG, so how does that make them immune to those lawsuits?
How many people would even interview for a job when the posting is:
Wanted: Employee for company. Company doesnt have a CEO. Company doesnt have a Name. Company doesnt have a location. The job has unknown benefits and unknown retirement package. The company has never operated without help from a parent entity. The company is planning on changing how it runs its business from how it has operated under the old parent company. And your role in the new company may not end up being needed.
So much uncertainty. Who thinks this is a good option? I'm sticking with the devil I know for now.
Layoffs rumors already swirling of a Future SpinOff Company.. what a show here..
Facts explained as it’s evident that this thread is heavily monitored based on Up vs Down arrow.
Post from another thread: Post ID: @1dby+1mSLF3Lm
Business Group
2500 layoffs
Or forced to take positions in SpinCo / other divisions..
And history repeats
Damn, all the best whoever are VolunTold to join this New Company.
Hope severances are same as current 3M
Someone earlier mentioned repeat of media storage company called Imation that was spunOff with great fanfare; I googled and Imation barely exist. Maybe something planned as failed executives will love to copy/paste their former executive failed work. Kudos.
https://apnews.com/article/0f75e88072e465fc62443a3b6029d20d
And looks like a book is also published to accompany the SpinOff:
William T. Monahan
Billion Dollar Turnaround: The 3M Spinoff that Became Imation
PV ahhahahahahah, really that’s your mfg lead hahahahahahahahahahahahahahahahhaha, useless, almost fired 15 years ago rescued by friendly HR peeps couldnt hack it in real mfg, became MBB, awesome at dashboards and saying “unacceptable…..”, ridiculous and good luck
Not true in my support group.
Those identified to go to the HCBG are very skilled and not dead weight. Overall the HCBG seems leaner than RemainCo but maybe that is ok.
What are the names of the far more better top managers who will lead the still nameless healthcare spin?
Not true. Employees who are important and crucial for healthcare business are only hired others are left in RemainCo for next round of layoffs. SpinCo wants to start fresh and will succeed in future. Top management is far more better than RemainCo management..
Great. Something new to worry about.
Can you explain further? What is people liability? What, let go after spin with a 4 week severance vs a 26?