Is it just me or does it feel like the calm before the storm these days at 3M. Have a bad feeling in the next few weeks, the M&M show will hit the panic button and major layoffs/restructuring will be announced.
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Eddie Lampert / Sears all over again. Cheers to the 200 corporate people and 1400 SAP consultants suckling off of the last remaining plant in 2035.
10k
MR has been quite clear that his legacy of cutting and contraction will continue throughout 2023. The only question is how deep the cuts will go and what the results will be of him “looking at everything we do”. It would be nice to hear in specific terms where the company is going and how it will grow, but it sure doesn’t seem like there’s any plan for that.
I received news that a small country was visited this week and was notified that their last day is August 31st. This country is moving to export model.
I'm wondering if country priorization plan will be mentioned during the following Earnings Call, as it was a topic discussed during the Leadership Conference back in January (where external stakeholders also participated).
Ignore Wall Street.
Be fearless and buy the dip.
- I
Just be selfish and stop praising the corporate. It is ok to do so "corporate citizens" Poor sheeps not knowing any better
some good solid thoughts from a lot of colleagues around the world, I see wee Pete loves Yammer and a lot of colleagues miffed he posts everything to there. It is actually a good thing wee Pete reads these posts on this site as does Lavers, Vale and a few more from C-Suite. If you guys understood just how close we are to actually saving this company you would not believe it, a few tweaks here and there and determination to actually develop from the bottom up with proper mentorship and training only breeds success, unfortunately, those that have MADE IT only look inwards and the next starts are missing that next rung on the ladder. Anyway I truly think we are in the worst ever demise of our great company, too many mistakes have been made and even if we correct them first, the ship will have sailed when we arrive at that port. Brush up the resumes and good luck guys
As @jtb+1lUnQ2cT posted, it’s now the predictable rhythm of quiet just before the earnings call. I would expect more “restructuring” announcements right before the earnings announcement in late April, to throw our investors a bone. The brutal truth is that nothing will change until there is an enterprise wide regime and philosophical change. Products and markets are mature, R&D pipeline is empty, and there is no apparent strategy other than to optimize short term profitability with prize growth and cost control. Sad time right now.
Heard from the Tireman conference about the Top37 plants performance. Seems like Q1 has a big gap already. Won't be surprised if there is another round of restructuring in Q2.
It is the semi-usual end of quarter quiet. Q1 financials are effectively locked, for good or ill.
Stay tuned another roughly 10 days for the other (next) shoe to drop ahead of the Q1 earnings announcement.
Same feeling. Not good.