Please share whether you received a WARN notice, and how package is calculated: years of service, job grade, vacation through end of year or accrued, etc. Also, please share whether you were notified by phone, FedEx, group meeting, etc. All separation packages can be negotiated with an employment lawyer. Please share names of those as well.
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Any recommendations on local employment lawyers in the Mpls/St. Paul area?
Was contacted on social media regarding class action effort on this wave. Asked if I was impacted and if so, do I have “X”
characteristics. Was the package really that bad or are people really angry?
So, people are being given 1 week per year of service and then signing a lengthy legal agreement. Part of that agreement is "not to sue" What a load!
If you get company shares as part of compensation yearly, be sure ask about those if you get cut. Anything not vested gets taken away. Press for this, as this a situation by situation and BG decision that needs to be asked.
2016
I really don't think r&d has been properly staffed since mcnerney and Buckley came in a managed as bean counters. Desi was the last guy who believed in the long term investment of research.
The person thinking that another 20 to 30 percent can be cut probably has 5 direct reports a few contractors and hasn't run an experiment in 20 years.
I agree with the person who was laid off in 2016. The same severance package that was offered in 2016 is what was offered to me in 2012. Cap of 26 weeks.
Go ESG Go!
R&D has been cut to the point where mostly product development takes place these days ! Lots of resources cut plus doing long term research has zero incentive for a while in 3M.
To the person who posted the previous message, are you one of those numerous mid level managers who get paid to do only horse work for upper management while contributing nothing meaningful to the company ?????
I was severed in 2016 and 26 weeks max was most and one/year of service and 1.5/service was standard then.
What's happening in research? Not that mike has been a steady believer that r&d is essential to the future. But this is one area he (or rather monish, who is running the show) could cut 20 to 30 percent and never look back as they get a fat package
Pretty sad to know that back in 2019 it was 3 weeks of pay per year. Not sure what the cap was but a 30 year employee gets a whole 26 weeks this time around vs maybe up to 90 back then. Another conformation the people in the know for finances can see they bank account is going to be emptied by the lawsuits, including pfas
I attest:
Severance Payment:
1 week of severance pay for each year of employment service for the first 10 years of employment service plus 1.5 weeks of severance
pay for each year of employment service beyond 10 years of employment service (prorated to the nearest month).
Minimum benefit = 4 weeks of pay / Maximum benefit = 26 weeks of pay
Companies flush with cash can offer better severance because they don't want to lose big in court on an age discrimination suit. This time around, 3m is worried about having enough cash to keep the lights on after a mega billion settlement. They will take the risk of lawsuits by offering less generous terms. The earplugs attorneys will be first to the trough before people's attorneys who are suing for age discrimination
The 3 weeks per year of service were from a kinder, gentler era of 3m. Moni isn't so generous since he believes in fierce zero sum game. If he gives laid off more, he will somehow get less. Poor Mike. He will also carry the rep for the crash and burn that was 3m. Mike should move to Florida and hope he doesn't run into any legal issues from irate shareholders wanting to claw back some of his gains.
That looks low. My colleague got 3 wk/per year or service
He was laid off during the initial 2019 batches
1 week per year, 1,5/y after 10 years. accrued vacation paid out. meeting with manager and HR.
The end is nigh for 3M