Thread regarding 3M layoffs

Severance info for those staying

Those impacted over the years. Help those of us who are left and will likely eventually face the same fate. Give details on your severance.

The fact that there is supposedly an “ok” (and its just ok) severance is the only reason i dont leave the company. If it is clear that future cuts, and lets be real—-there will be, are going to offer even less accommodating transition packages, im outta here. Not worth the risk of staying and ending up with no income while looking for a job.

State your layoff year and severance terms in the next post so we can see the trend

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| 2001 views | | 10 replies (last September 2, 2022) | Reply
Post ID: @OP+1ivTjvxW

10 replies (most recent on top)

I was let go. It's 1 week per year. than 1.5 week each year after 10 years.

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Post ID: @1fta+1ivTjvxW

Asked and answered. Look at previous threads.

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Post ID: @1qmu+1ivTjvxW

Another item to ask about is your HRA (Health Retirement Account). In the past if you got let go and weren't 55 you lost your HRA and all funds.

2016

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Post ID: @1jqh+1ivTjvxW

2019- 8 wks

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Post ID: @hmj+1ivTjvxW

This isn't like the old days when people getting laid off could either take less severance or buy more years toward their pension. If the p1 and p2 comment in the star tribune is true, finances must be in even worse shape than we've heard about from rosy mike.

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Post ID: @txz+1ivTjvxW

I'm assuming, employees will accrue no more years of service towards their pension. Frozen where they are at, at time of freeze?

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Post ID: @wht+1ivTjvxW

I heard severance is 1 week pay for every year of service capped at 26 weeks.

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Post ID: @cgy+1ivTjvxW

2016 - 26 weeks max

  1. 5wks/yr of service
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Post ID: @fvi+1ivTjvxW

Where did you see pension change in the startribune? Can you post link?

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Post ID: @mui+1ivTjvxW

From another post in Startribune newspaper online :

They will stop contributing to Portfolio 1 and 2 as of October 1st for the pension plan. Like I said Monish P is running the shop so that he can create a soft landing for himself as CEO of the new company. Even if your not let go today nobody is safe. Morale is a negative number. Good sales people and many Quality Minnesotans getting let go. No WARN notice either.

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Post ID: @pnu+1ivTjvxW

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