I know many are losing their company cars , and rumor is when SpinCo happens there will be no company cars ? Can anyone confirm this?
17 replies (most recent on top)
This is 3M not the oprah winfrey show. U want a car go to oprah. You want to work, stay in spinco.
Looks like 3M really pays its senior leaders very well. But when come to bad times, it chose layoff over reducing senior leaders benefit.
Carbon neutrality.
It’s not referring to USAC headquarters, as their compensation package is very high. And referring to directors 16& above, not BOD.
Regarding the car allowance for directors and above....
- Are you referring to EMEA directors? Because compensation packages are different there, and sometimes include cars.
- Or, are you speaking of sales folks?
- Or, Board of Directors?
If you mean non-sales JG 16/17 directors in the US, then there are NO car allowances. And never have been. (unless I'm the only one who didn't get one!)
And the amount mentioned fails the credibility test anyway. No company would pay that much when a lease amount is $500- $1000/ mon. At $4k/month, you'd pay off a nice car in a year.
I can confirm what Dominic said is directionally true. Go check it out for those working in the headquarter office.
Dominic’s “heard” statement on car allowance for directors and above is completely false. This is how ppl sow discord through disinformation. Shameful!
The company car thing isn’t just an elitist perk. It’s important for the sales org. A lot of us cover multiple states and put 30,000+ miles on annually, so driving our own vehicles is an issue. Obviously not a life changing hardship, but something to factor in when deciding whether to work there. And yes, I interviewed for a SpinCo position and was told they would be phasing out fleet vehicles.
Company cars are right up there with corporate jets - all should have been eliminated before 1,000s of jobs....
I heard car allowance for directors and above for RemainCo are getting at least. $4,000 per month. That’s a very attractive amount of allowance
@1oxs+1mZGKHmP - Oops - meant no retiree health care. They will offer employee health insurance.
No company car, no company cell phone, no GESPP, no pension, no employee health care, higher health insurance premiums, shared desks, and working for a new company that nobody has ever heard of. We're truly blessed to be chosen for this once in a career opportunity.
Who needs a company car when they all work from home and travel is not allowed?
@OP+1mZGKHmP - dummy check this below about NewCo stuff.
https://www.thelayoff.com/t/1mVncy7r (Bringing thread Top - DoNot-Join - NewCo Healthcare)
People are already chatting about layoffs in NewCo & you’re worried about a stupid car.
Take your company car and shove it…
No that’s not what I meant. There are more important things I agree. This is just another one people have been talking about mad threw it out there. Sorry to have offended you.
Rome is burning and you’re worried about a company car benefit? Very elitist post with all the other atrocities occurring.