I think they may wait to see how many pension eligible employees leave by end of year. There is a lot of incentive for those considering lump sum payments to go by December.
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The senior management team should each receive a 75% cut in base pay effective immediately. They should receive no further perks of any kind as long as they continue to fire staff.
Can anyone comment if US layoffs are complete? If not, any insight where/what functional areas will be decimated?
There may be selected layoffs by week but expect some kind of bigger announcement as part of 3q earnings. That's when the chainsaws come out. Not a merry Christmas for many below jg 14.
Monish will rev up his cost cutting spreadsheet complete with super macros to determine which BG leaders will cut next and by how much.
Yes 3M is being run by a macro driven excel spreadsheet, not by real people.
october is a fine month for layoffs,, this is the 3rd time to happen in October
Looks pretty positive for layoffs.
Few rounds are done, many more left. Expect more emails from VP's and EVP's telling us how they are trying their best to grow this company under difficult macroeconomic conditions.
Also this will continue on a forever loop basis. Almost certain to repeat next year and next few years after that.
There were unexpected layoffs last week that touched TTS.
Every week is an opportunity to be laid off! Exciting times at 3M!
Worried, no. Concerned, prudent.
Should I be worried?