3M can keep telling employees everything is fine, but that doesn't make the problems disappear. The direction of the company feels pretty clear to those of us watching from inside.
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@k8 I think the eventual goal is to part out the company. If the profitable businesses can be sold and not take any PFAS liability with them shareholders can benefit and reduce the risk of more PFAS settlements. My previous comment about leadership intensions is the only way gutting the org and losing so much knowledge makes sense to me.
@kw
That is loaded statement. How do we interpret it?
So the next question, is EBO real?? There are big ads on roadways etc
@k8
as he said..."make the various businesses look attractive to potential buyers"...
@jm
But the 3M EBO and optic films will not let 3M to be bankrupt. Don’t you think so ?
I expect senior leadership is doing all it can to make the various businesses look attractive to potential buyers. It's similar to the PE playbook, maximize short term margins so the company can be sold at a premium. Leave the PFAS liability in a drastically reduced 3M and go into bankruptcy.
Even for newcomers such as myself, the toxic culture, disempowerment and micromanagement come as a cold-shower-like shock. This isn't a company or culture that is designed for long term success. The old "3M=innovation" is nowhere in sight
Managers see it, they are likely pensioned employees either portfolio 1 or 2. They all want to hang on until the pension maxes out end of 2028. After that, I expect you will see a lot more movement in long term employees, which are often managers.
It just baffles me with such short sightedness, why do they have so many R&D in CRL and a CHief science advocate. You think the Wall Street has not figured out the fake R&D cover?
@ay
No they are not. Ride until the last dollar and jump ship
It isn’t getting any better. Honestly it feels like the place is dying. What I don’t get is that nobody in management seems to see it. Are they that ignorant. 3M used to have at least a few smart managers.