Thread regarding 3M layoffs

As for the 2 percent raises, 3M was never a company that paid top of the line. But, for a while GESPP made up for it. You could more than make up for so so wages with a nice stock plan. Ever since Inge borrowed billions to buy back stock at 200 plus per share, this has been a disaster. Throw in the mindless annual layoffs, good luck seeing a silver lining in this cloud.

Very sad that 3M went from being so well regarded both by employees and by communities. Scientists and engineers were so proud to work for the place. Labs generated meaningful products to patent. Production plants were well-maintained. Training was about personal skill development whether tech tools or people skills.

Now the labs have more LG15 and up than lab techs. I'm not kidding. Ask around.

Production plants have actually been using some duct tape on lines that carry non deadly chemicals, but drips are everywhere. Just ask around.

Training is now focused on legal stuff which will get you fired if you don't complete on time. DEI is not a bad idea but how many levels and iterations are needed. It likes an endless stream of the same stuff, repackaged, and constantly advertised.

Oh by the way, I read the original PR newsline on the Xmas tree lights in 220 bldg. Later on, they added a paragraph about how they take energy conservation seriously and how office sweeps shut off other lights on campus. Not that many people show up in person anymore. 3M more committed to carbon footprint and carbon net zero by 2050 than paying employees more than 2 percent raises and paying shareholders more than the usual penny per share increase each year.

Sorry for the rant but when you see people who gave their heart and soul to this place callously released after many years of service, you'd be frustrated too.

Good luck to all. I've heard cottage grove is getting another haircut soon this month perhaps.

*I noticed the only "news" this past week is a total of two stories.

One, an advertisement about 3M and the young scientist program, where someone in mid teens age group will win 25000 and mentoring from a 3M scientist. Wonderful stuff, but unless this wunderkind comes up with a brilliant idea that 3M can patent and turn into huge profits, it's just nice to hear.*

To the young scientist who is being mentored by a 3M scientist:

Do not come here if you are passionate about science and technology. This is definitely not the place. A scientist or engineer in 3M these days do not have any meaningful path of making a decent career. If you want to be a hands on scientist there are many meaningful choices elsewhere. I won't advise my own kids to join this organization.

I noticed the only "news" this past week is a total of two stories.

One, an advertisement about 3M and the young scientist program, where someone in mid teens age group will win 25000 and mentoring from a 3M scientist. Wonderful stuff, but unless this wunderkind comes up with a brilliant idea that 3M can patent and turn into huge profits, it's just nice to hear.

Second, 3M celebration of the Christmas tree lighting of windows in 220 bldg. It's been going on for 60 years now. Again, nice but where are the new products that will save the company coming from when you have as many LG15 and ups in the labs as you have lab techs. Speaking of the dreaded mcnerney, anyone remember how he wanted to have a helicopter pad installed just for him to fly back and forth each day from his cottage on lake Minnetonka to 220.

Boa constrictor? More like having to breathe in and out through a paper bag. Doesn't ki-l a career that fast but does make one lightheaded thinking about weekly layoffs.

No activist investor will touch 3M with a 1000-foot pole with all of the legal issues.