Stress, layoffs, and less collaboration

Morale is in the dumpster because of a few things. First 2020 stress is real, and definitely part of it. Second, 3Mers have gone through three terribly-managed and badly-communicated layoffs in three years, that helps nobody feel good. Lastly, and I think most importantly, the Advance 3M remodel has simultaneously made decision making slower and less collaborative. All of this coming along with a clear message from executives of "The beatings continue until morale improves".

A lot of 3Mers have had it, and are running for the exits. Right now it is at least as bad as the McNerney era, and from my view even more destructive.

Perfectly said, @hhs+19RHu1nM.

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It looks they are getting rid of the experienced technical staff
Also combining or expanding the scope or divisions of the management staff
Freeze all hiring in hope to stop the EPS decline

Only time will tell... Better get out of their shares

The way the layoffs have and are being handled is abysmal. In 2019, Roman announced big layoffs in April and then delayed announcing who was affected for three full months. This, I believe, was a step change from how it’s been done on the past. In the past, the notifications to individuals go out before it’s publicly announced. Either way it’s rough, but the latter certainly alleviates some stress and anxiety and likely has less impact on overall morale. Roman had to make these cuts because he lost the pulse of what was happening in the market and he needed to react quickly to show he was capable as a CEO. Pretty sad situation. The culling of senior employees is also very troubling. Roman and leadership can tout inclusiveness, diversity initiatives, and environmental stewardship all they want, but it’s tough to swallow when they are treating their tenures employees so poorly. The fact is that employees are being cut to improve EPS because there is not enough top line growth to full earnings. Growth cures a lot of problems, and it’s tough to see growth on the horizon.

Thread regarding 3M layoffs

Stress, layoffs, and less collaboration

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