Thoughts? Any 3M layoffs? Any chatter, news or rumors?
7 replies (most recent on top)
Stooping over dollars to pick up pennies?
Just started today; 8/30. SIBG (Safety & Industrial) retribution for not reviewing bankruptcy protection.
Yes, 2022 early retirement packages are in discussion . From a very reliable source
Looks like more redundancies and shorter working weeks. The center of Roman's World is icing up. New plans are aloof and it seems the company will start to break off into mini sectors. Anyway I retire in January after 32 years and can honestly say the company is going downhill fast
There are several plants worldwide that are for sure on the chopping block for the second half of 2022, FMRs are moving through approvals now.
My guess is St. Paul and staff functions will mostly get their cuts through the vaccine mandates. Middle managers in St. Paul are being told that vaccine mandate replacement hires are not going to be easily approved. 5% net cut maybe in the US?
The drumbeat of false 'efficiency' continues unabated. Business teams are being told to increase gross margin percentage at nearly all costs. This includes shedding top line sales and bottom line profit dollars to make the ratio look 'better'.
job actions strike and 2022 talk of several plants shutting in Europe( Spain and Ireland) and some major changes in the asia market, labor shortages due to top companies taking the cream off each other, St Paul have their work cut out ,
Small pockets I have heard of, but they will wait for the mandate to come into play so they do not have to pay any severances.