Thread regarding 3M layoffs

I sincerely hope @1kqs+1hyBWapM is not a hired lawyer for mother mining

Don't worry about the end game @1kqs+1hyBWapM, as long as mother mining as meat on her carcass, lawyers will nibble away. If pushing for an arbitrary settlement was so easy with no risk of negotiation, I would imagine the settlement amount could be set to be as low as one would please. Then, why give $50billion why not $5000?

If you happen to be in the management of 3m, I would request you to consider the possibility of law firms understanding basic multiplication: 288,0005,000,000=1.4e12.

None of these look like $5000 to me.

It’sa sh-t company. The farther you are the better .

This is what fraud research gets you.

None of the figures pointed to here are on the scale that of 10000 dollars. @1kqs+1hyBWapM Should take note

If the trials are any indicator of the damage suffered by the veterans, I would assume the lawsuit goes way beyond the capacity of the company for settlement. Closing shop might be the only option that is left.

However, the insidious ba----ds will probably break off a piece of the company, push the blame on it and work around bankruptcy clauses. The media and the Justice system would probably both be on the lookout for this.

For what it’s worth, the company will lose the internal sentiment, massive level of attrition will result. And as was the case earlier, recruiting folks and convincing them to come to MN for a career will be an uphill task, especially given the media coverage.

It takes a lot of gall to sc--w over veterans in the US, and these guys have done it. If folks think this is the end of legal troubles, well there are three countries with PFAS plants in them. Before you know it, there could be European environmental protection agency’s knocking on their door for massive settlements.

This whole chapter should be present in 2nd grade moral science text books so that the future generations know what not to do in case they lead their own company one day.

Thanks for bringing in the numbers, @1jhj+1hyBWapM.

It seems @1kqs+1hyBWapM ‘s uncle is sitting on the US department of justice. This level of wishful thinking is unparalleled.

As far as CALs are concerned, not one veteran amongst the 200,000 will sit quietly if you gave them a discount coupon for a lifetime supply of Chuck E. Cheese. CALs do result in repeals in case the settlements are unfair. And from the looks of it, what is being offered is two orders of magnitude less than what is expected.

PS I sincerely hope this isn’t someone from the C level of 3m that’s responding to the thread optimistically. Being hopeful is one thing, being delusional is another.

3M Earplug Bellwether Trial Record
These are the trial results for all 16 MDL bellwether trials. This does not include the $77.5 million Beal verdict.

ROUND PLAINTIFF(S) DATE RESULT
1 Hacker / Estes / Keefer May 2021 $7,100,000
2 McCombs May 2021 Defense Verdict
3 Baker June 2021 $1,100,000
4 Atkins Sept 2021 $8,200,000
5 Blum Oct 2021 Defense Verdict
6 Palanki Nov 2021 Defense Verdict
7 Camarillorazo Nov 2021 $13,062,320
8 Finley Nov 2021 $22,500,000
9 Montero Dec 2021 Defense Verdict
10 Stelling Dec 2021 Defense Verdict
11 Sloan / Wayman Jan 2022 $110,000,000
12 Wilkerson Mar 2022 $8,000,000
13 Vilsmeyer Mar 2022 $50,000,000
14 Kelley April 2022 Defense Verdict
15 Vaughn April 2022 $2,200,000

Post I Post ID: @wgh+1hyBWapM Has no idea how class action lawsuits work. Not everyone joining the CAL has permanent hearing loss…so not everyone receives the same payout. Some will have inner ear dysfunction which in a settlement has a typical mean value of $14,000. Partial hearing loss gets you about $55,000 and you might get a settlement of more than a million if you’re permanently deaf. The end game for the firms representing these plaintiffs is to push for a CAL , not thousands of individual cases so they will be advising their clients to accept a reasonable settlement

If suing 3M were such a slam dunk@wgh+1hyBWapM would clearly have sued them for whatever are his many grievances. But he knew he’d lose so instead he wrings out some satisfaction by pretending he has some insider knowledge about 3M instead of just an unfulfilled vendetta.

@eng+1hyBWapM Thinks giving gift cards to veterans is going to settle the case, lol. They are going to demand much more than $5000 for a permanent physical disability.

The total payout should realistically be around 100-200 billion dollars with the average compensation being 500000-1000000. Else there is always a possibility of repealing and fighting cases individually.

“Well experienced in handling lawsuits” more like “well experienced in screwing people over”.

The experience with lawsuits isn’t going to reduce the expectation of the plaintiffs. If lawyers know that $5 million was the average settlement, they are most likely not reducing their ask by a factor of 20. The give from 3m’s side is too small as compared to the ask of the plaintiffs.

If the plaintiffs don’t get a satisfactory compensation, they are free to take individual cases to court for a repeal, this would result in higher legal fees and possibly punitive damages.

Innovation or no innovation, without money on hand, the operations are not running.

First of all there are more likely 200,000+ claims of injury and 3M is not going to litigate each individually. They will be negotiating settlement of a class action lawsuit and payout may range from $5000 to $250,000 depending on the extent of injuries. That’s still a huge sum but settlement costs are tax deductible in most cases. So if you have a better offer and want to leave, you should.The company will likely tighten its belt and sell of parts slowly but it won’t likely be a cataclysmic event so there also is no need to immediately back your bag.

I would be more concerned about the absence of innovation and motivated by this to look elsewhere other than the lawsuits. 3M is well experienced in handling lawsuits. But it is not structured to thrive without innovation and that has been in short supply for a very long time. So if you can’t grow your way to prosperity and you are short on cash and can’t buy innovation, you are left with a lot of overpriced “me too” products that are difficult to sell. But it has been limping along like this for years and likely will continue to do so.

My friend you got in at the wrong time. It might be best to start packing your bags. The company is going through serious trouble. No matter what path it chooses the ship is drowning. But trust me on this, what is happening with them is completely justified.

I used to work in one of their research labs, to make ends meet they had to play some shady games. By they I mean a cohort of management and well connected employees. The word “family” was used to justify sketchy techniques, some of which are outright dangerous and could hurt psychological and mental well being of junior employees. If carrying out the operation legitimately is s as I touch them why start it? Why not focus on something the company is well positioned to deliver on?

As far as the right thing to do is concerned: settling with the veterans would be morally correct but would result in a su----e for the company. Trillion dollars don’t grow in the trees.

Given how shady they were, realistically, I feel they will break off a small piece of the company and push liability on it. This way the remainder of the company is free to continue their operations and do sketchy things.

But knowing how work was done and other legal troubles the company has been dodging, I don’t think this victory will last too long. The media will chew them out completely for what they did with the veterans and pfas. And before you know it another scandal will surface.

If I were you, I would plan my exit before recession peaks out, once recession hits it will be a lot harder to find a job. Besides the next few months the workload is going to get insanely heavy, as most of your colleagues have already left.