There have been no rumors about layoffs and that's making me nervous. I guess Medtronic leadership broke me, since now I see no news as an intro to bad news. Am I stressing over nothing? What are the chances of another round of cuts within the next month or two?
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"Medtronic leadership retreat" no clue what that means, but my guess if its real it means "OK boys and girls WTH do we do now, this is a CF and a FUBAR, lets white board everyone ideas to get out of this mess" IMHO
I just saw a Medtronic leadership retreat. I wonder what that retreat is about....
From continuity planning, I am reading layoffs will be quarterly/semi-annually but as a cover to remove individuals who either costs above the median of their pay band or individuals who have received a developing on their review. PIPS will be more about getting the person out than actually improving the talent.
Not in the next month or two. Doing so would require management to move with speed and decisiveness
Remember, these were the same old folks from GE. They ensured the company gets broken down into smaller parts, gets sold and goes down in the memory as ‘once great’ organisation.
They left GE while it was getting folded down and came to Medtronic to do what they knew best!
Now Medtronic will go the GE way!
If you are an engineer, be very afraid. Medtronic is investing $160 in MEIC in Hydera, India and doubling headcount to over 1,500 people in next five years.
You will never know if they will do another round. Just update your resume, apply, and take interviews if you can, so you will be ready if it does happen.
There will be many more layoffs at mdt. Get out.
There is no leadership in any function.
Look guys Geoff's here
@wkk+1mFnK1en - looks like you’re Geoff lapdog
The good old days were over in 2015 when neutron Omar and his lap dog Geoff decided to buy Covidien.
Get use to it. The good days of working for Medtronic are now over.
Take it easy. We had a good run and now back into a cycle of 2-3 yrs of layoffs. Not worth stressing about.
In the end change is always good.
As others mentioned, layoffs outside of the US are still occurring as each country has various requirements surrounding terminations. I do think MDT will continue to monitor budgets and headcount quarterly for the next year and beyond. Medtronic isn’t at its financial best right now and that’s not something that can be fixed overnight.
This round of layoffs is not over. It may be over in the US but other geographies have different laws which means the layoffs are bound by different rules, e.g. Irish layoffs are happening this week, Germany is in July
This round of layoffs aka project pivot is over. With that being said they will be reviewing cost, including head count, on a quarterly basis. Let's just hope the severance package is the same for those in the upcoming subsequent layoffs.
GE cut every 6 weeks. I have the dubious honour of having been laid off by GE and Medtronic all before 40. MDT is on the decline and it will take years to right the ship.