During all my years at 3M I have never seen so many layoff or restructuring as I have since he has taken his corner office. Horrible leadership and has no idea how to run a company!!! when will the shareholders open their eyes and have this guy removed! Losing manufacturing jobs while the basement dwellers getting all the perks working from home stay safe!!! They need to wake up fast!
7 replies (most recent on top)
Gotta grow if you don’t you have to cut
Poor service and availability of old products … this is todays 3M
Will go to the bottom until new products are developed that are needed by customers..
I hear many Newell executives are freshly available.
Iconic Sharpie can’t compete with PowePoint.
MR will go down in history as the worst 3M CEO in its 120 years since company started.
he has never failed to finish a year without layoffs throughout his CEO tenure since 2018. From the original 5 BG, it has shrinked to 4 BG, and reducing to 3 BG by next year. Very soon, it will be just 1 BG - TESICBG. looks like ThE.SICk.BG.
The problem with getting rid of Mike is that he reports to the Board, which is made up of buddies he approved to be added to the Board. Unless an activist investor decides to drive for major changes (unlikely with the dual lawsuits), Mike is here until retirement age. Then monish gets the HC CEO job. Mike is replaced by a mini-me, hand chosen by him and monish. Are there any BG directors capable of running this place (and not into the ground)?
The one constant since 2018 (layoffs started becoming a strategy or part of the “playbook in 2019) has been MR. Sure demand was not quite there in Q4 2022, but what’s been the excuse for the last 5 years. In 2019 he got caught not adjusting fast enough to the market so it was 2,000 layoffs. Then in 2020 it’s CoVid with many more thousands of layoffs. He’s in over his head, he hasn’t placed any best that have worked, and he has no idea how to propel 3M forward. At some point, you have to admit that leadership is the problem and move on. That time passed long ago.
Not only manyfacturing job those who WFH also lost their jobs few months back. Only difference is they were not public. So you better direct your anger toward management instead of turning against fellow workers.
This is the 6th consecutive year of massive layoff since he took over CEO in 2018
Never fails to disappoint the market
Give MR a beer!