I'm part of the filtration group that Thermo purchased from Solventum. It's unclear what exactly their plans are for us, but they seem to be moving real slow to spend any capex on the things we need. I think they really underestimated how intertwined we were with both 3M and Solventum. It also seems like we spend significantly more on R&D than Thermo as a whole. Are we all sc--wed? What has thermo's timeline been in the past for cutting people after an acquisition? Thanks.
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They want the tech, not the people. They'll use their PPI process improvement system to achieve "meaningful synergy realization", i.e., assimilation of your tech, elimination of your people, and celebration of increased earnings per share (EPS) for the major stake shareholders.
A good example is CRG (formerly PPD). Ever since being integrated they've been both heavily involved in Thermo's high priority biotech strategy AND experiencing regular reorgs and headcount reductions. Everyone from frontline staff to upper management is confused, resentful, and nervous.
@hk not just US. Watch out if you in a country with limited protections. You'll get fired and no severance.
Thermo buys things that look good to the shareholders. They will keep you in name but gut the business and lock down spending. Move jobs to low cost countries. Not safe if you are in the US.
Once official, it will be monthly if departments don't meet numbers. They cut jobs in a way that do not require WARN notices, small pockets here and there. It is how they can get away with laying off thousands without the need to report.