Thread regarding 3M layoffs

Excuse me. Peter is Scottish, not Irish. Probably wears a kilt at home.

BB is putting on a Masterclass as CEO. He takes credit for the successes and financial engineering done by Mikey. Then blames businesses like SIBG for poor OTIF. Puts pressure on the VPs to pull rabbits out of their hats with less inventory.

The guy will do the honor of splitting up the rest of the company in pieces and then find some B school willing to have him come in as a guest lecturer on how to turn around companies.

Lewis Lehr he ain't!

Thank goodness I retired with pension and medical before St-lin style purges during the latter years of the Roman Empire. A lot of people were literally months away from age 55 or 91 points and got sc--wed.

Hard to have high OTIF when you've got leprechauns insisting on clearing out inventory.

SIBG called out by BB on earnings call for low 80’s OTIF and an admission that customers are going to competitors.

What does this mean AIP will be for "3M Worldwide"?

There is no safe performance anymore - cuts are always the plan. Cuts to people, budgets, etc is the plan when leadership is gone. This is the new norm, so always look out for your interests because the days of loyal companies are long gone and it will be proven over and over as long as there is something to cut in the name of shareholder value. Stay ready and have a backup plan, and hope you don’t need it.

Might touch $150 this week
Cut it's way up.

3M is always a holiday away from cuts

What should 3Mers expect after earnings results? RTO like federal employees (back to 5 days in office per week)? Will office space be ready? Is there more ‘pruning’ of small or low performing divisions to come? Are we a holiday away from cuts or stable for a while?