So layoff announcements went out this week. Many people will be hitting the road pretty soon.
Here is the message that technical folks got in summary :
Thanks to your 20 + years of service and loyalty to 3M, now here is the door out. Your service and expertise is no longer required.
Now many technical folks , many above a certain age, will have to find a new job and career in the middle of a global pandemic.
Meanwhile the company made $ 1.2 Billion profit last quarter. Clearly wasn't enough to retain experienced technical folks, who work in the lab on a daily basis, making the technical breakthroughs that allows new products to be introducedin the market...surely they had to go. Completely understandable!
Meanwhile upper management congratulated themselves on a job well done and had a good time at the 3M open golf tournament last week, while spending millions of $$$ on company's dime.
After all Q2 result wasn't that bad. Only minus 13 % organic growth achieved versus minus 10 % expected. Yay......let's celebrate.
When did growth become a negative no. in 3M ????.
Meanwhile there is growing concern inside the company about retention of newer employees. Younger technical employees leaving the company in record nos. Why stay in a company , with shrinking revenues, profits and benefits, that places little value on a technical employees career ???