Thread regarding 3M layoffs

Tartan was sold in a panic mode. An activist investor (Nelson Peltz) went after Dupont for allegedly losing money on its golf course, hotel, etc. Under pressure from people like him, Dupont dumped these at well below market value because they were trying to appease the activist (it didn't work as he appointed his hatchet man the next year).

Inge tried to avoid the same fate and made the decision to dump these properties. Problem is the buyers lowballed because they knew he would sell it to avoid someone like Peltz making a run at breaking up 3M like Peltz and his henchman Ed Breen is doing to Dupont.

Five years later, Mikey is breaking up 3M not because it couldn't exist as a conglomerate but because he needs the cash to pay for earplugs and PFAS and maybe Bair hugger too.

Inge should have told activists to pound sand. He got the stock up to 259. There was no pressure like there was on floundering Dupont.

Tartan park is gone, sold to the sponsor of the 3M open for pennies on the dollar (he is now selling it for more than what he paid for it AFTER selling $50M worth of lots for new homes). The boat in Canada has been gone for years if not decades. Maybe Wonewok is next.

The real question is my M&M are building new "suites" when no one else even gets an office. Maybe they will share a bathroom?

Great quad remodeling project. Money well spent - will increase engagement, morale, etc.

Monish....you have let down generations of 3M employees. You have ruined the 3M brand. I'm utterly embarrassed to be considered a 3M employee. Why are you doing all of this? Business books will have your name in them of why 3M failed. I'm embarrassed for you. Think of all the families you have impacted with your poor leadership skills. It's no secret you are trying to bring your GE background to 3M. Shame on you. B.O.D. please step in. If the bord doesn't step in and make changes there reputation will also be ruined. #Save3M.

Sales reps were told that we could not have more business cards as we needed to save money. I checked and found out they cost $11.00 for 500. Made me sad to think 3M was really that broke. Will have to get them made myself.

When Covid forced the closure of buildings in San Antonio, the brain child decided that all new signs needed to be put on empty buildings. Furthermore, they purchased new printers for a very large three-story facility with zero workers. This is the kind of stupidity that leads 3M. Putting signs on the building which is empty and will never be filled again is stupid.

”How does Monish justify this expense versus keeping people on the payroll?”

Monish Patolawala, cannot run from his deplorable 3M record. It is clear to any freethinking person that 3M “senior management” looks down upon employees. For corn sake, the 3M mission statement doesn’t even mention employees. That omission is an absolute DISGRACE!

All they have done is take and have given back nothing to the rank and file. A real man would resign in shame. The stunts these jokers pull clearly indicate they have no shame.

Wonewok. I think there was a time where they sometimes allowed some of the working class to get a team event on a weekend as a reward. That all changed about 20 years ago. Now it's for the richly compensated and the so-called up and coming future bosses. Hoi polloi need not apply.

When you can't innovate, renovate?

How does Monish justify this expense versus keeping people on the payroll?

What in the french toast??? I thought there was no $ given the thousands of people that have recently been laid off. ?????

Not to mention the corporate yacht in Canada, Wonewok resort, tartan park golf course and playing fields.

Other than basic maintenance, why spend a dime at the Center when many employees are working from home and would quit if required back on the office?

Mike and Moni have let power go to their heads and have enough corporate synchophants to cheer them on as the titanic continues its sink to the ocean floor.

And yes time to pull sponsorship from the 3M Open. Let Target fund it.

Millions have been spent on this disaster. Tens of millions spent on 3M Open. And we wonder why we are in a shitstorm of leadership. The hypocrisy is stunning!