Based on the Townhall, CFO mentioned that MIP is around 93% for level 3 met expectations , could be more if you exceeded expectations
Also hearing due to the business performance this year, there could be additional 401(k) match upto $0.80 on the dollar contributed
Good times. Atleast much better than last year. Congrats all!
My merit was 3, rating 3.
30% for GM, 2.5% for everyone else.
Any idea what is the raise this year?
Management will find any way possible to rank employees lower in their perfectly evals so they can reduce MIP
Everything is fine
Everything is ok
We are doing great
Our leadership is on top of all the big issues.
This feels like an executive trying to boost morale for us plebs.
Send in National Guard
They keep raising the bar and expectations that is no where near achievable.
@bc MDT doesn't pay taxes anyways. The tax basis is out of Ireland which is a corporate tax haven. That was the last deal of it's kind, the FTC closed that loophole after the Covidien / Medtronic merger because it's such a tax loophole.
Did the meets requirements merit raise percentage go down this year?
They just need to squeeze little bit from each one of us and it adds up to big dollars on the bottom line. This is just one more unethical action they take to mask incompetence for which it is easy to find cover in lame public excuses.
A famous quote comes to mind!
"We know that they are lying, they know that they are lying, they even know that we know they are lying, we also know that they know we know they are lying".
Aleksandr Solzhenitsyn
Don’t kid yourself, they will find a way to tweak the MIP formula and sc--w the little guy out of some percentage.
401k matching allows Medtronic to pay less taxes