Thread regarding 3M layoffs

High level honchos retiring early with 6 months extra salary

Rumor mill has it that some Director / VP level people have recently retired early and "negotiated" 6 extra months salary as part of their package !

Is there any truth in this piece of news ? How is the company allowing such malarkey when in tough times like these division labs are having to cut back on buying even basic everyday chemicals, while giving away free unearned money to top management ?

by Anonymous
| 2211 views | | 6 replies (last October 30, 2022) | Reply
Post ID: @OP+1jrILrkl
Comment! It's anonymous!

6 replies (most recent on top)

Chief transformation officer?!? My toes are giggling. Hahahaha

by Anonymous
| | Reply
Post ID: @1xir+1jrILrkl
  1. It's JG, not LG....
  1. JG 15 isn't that high, isn't even a Director - Senior Manager only. Typically Product manager in a plant, manager of 10-15 salaried staff in St. Paul.
  1. The new employment agreement doesn't show up until JG18 - Vice President. You can search 3M Go and find a copy easily enough. No extra 6 months of pay on it.
  1. Most people at JG15, or JG18 for that matter, aren't making the layoff decisions. Those are getting made the next rung up. SVP/Div. President level. (a.k.a. JG21 and up or L2 and up)
  1. Roman is incompetent. Patolawala is a criminal. The BoD has abdicated their responsibilities.
by Varys
| | Reply
Post ID: @1spu+1jrILrkl

It's part of an employment contract that people LG15 and above usually are offered as part of a non compete agreement. It's different when you get to the heavenly job grades.

The rest of the heathens are left with crumbs.

by Anonymous
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Post ID: @ewf+1jrILrkl

I believe it. I can’t even buy paper for printer and higher management makes millions

by Anonymous
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Post ID: @lst+1jrILrkl

Roman and Patolawala are criminals.

by Anonymous
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Post ID: @pzq+1jrILrkl

Sign of the times. Anything goes by in 3M these days. If you are connected to the right people, any and all rules can be bent or broken.

by Anonymous
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Post ID: @vip+1jrILrkl

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