Thread regarding Medtronic Inc. layoffs

Contractors are obviously the first ones to go let go. My contract is not renewing (neuromod)

For the person concerned about the non compete; read your agreement and you’ll see that if you have a bona fide offer you are unable to accept because of the non compete, Medtronic is either required to pay you for the period of the non compete or release you from it. And beyond that, most non competes are thrown out and unenforceable.

What about the 2 years non-compete clause? Are the RIFs expected to oblige? Not like twin cities has abundant of diverse industries outside of med device…

Wifey sorry to hear of your husband's layoff.

Re DEI, no ones saying MDT wont fire DEI people although there are definitely the "chosen ones" if you catch my drift

The problem overall is DEI seems to be the flavour of the entire year and everything the company does including their MIP payouts, revolves around that. And there is no shred of evidence that DEI contributes somehow to profitability. That's the gripe with this company.

So they have multiple 483s, general lack of innovation and major quality issues and they are cutting the 3 functions that are supposed to help with those issues? LOLOL

Wife here of someone laid off from neuromod today - strongly suspect more are coming tomorrow. The severance is good, provided we can keep our kids insured after the two months is up.

Also anyone hollering about the DEI stuff can stfu. My husband and his colleague let go this morning were both tenured (10+ years) top performers and neither were white dudes. They are culling by numbers and division, not race/gender or even talent. You have a gross misunderstanding of how Medtronic’s DEI efforts function, my anonymous internet friend.

Ones that I heard from were: Strategy, R&D, Clinical, and Regulatory. Haven’t heard any in Legal, HR, or Marketing yet.

Neuromod R&D, Released Product Engineering, and some sales reps/CSs. Not sure if there were other functions beyond that. Seemed like it was only a couple people here and there through various teams, but the VP of R&D seemed to indicate that this was only the first round and another round will occur before the end of the fiscal year.

Do you know what functional groups got Riffed?

Neuromod had layoffs today, most contractors and a bunch of FTEs were laid off

Considering I lost access to my MDT login etc as of 5pm today; sounds like this round may be finished if all town halls are tomorrow. It may be just to communicate who is gone and who isn’t for this round.

I've also heard that layoffs are supposed to start next week. Not necessarily from a reliable source, but two independent people with the same information seems like it could mean something.

RIF stands for Reduction In Force. Code for layoffs.

I am sorry, what does RIF ( or Riffed) stand for? Thank you!

All quarterly meetings are scheduled for the same time tomorrow, so I am guessing more information will be given then, guessing not positive

It's definitely not done yet

Anyone know if the cuts come in waves (last night/ this morning) and drag this out or are we done? Like most I’m trying to get my finances in order and am sick of playing the “who’s next” game.

Do we know what functions?

Neuromodulation/Pelvic Health seeing some individuals being RIF'd this morning.

Any info on what functional groups are affected?

When you say neuro, do you mean neuromod or neurovasc? In neurovasc and we are all wondering when it will start happening

Please keep the updates coming

2 more cut this morning in neuro (no idea about totals so far). From what I’m hearing you will get an abnormal meeting request where a higher up (guessing director/vp) will let you know. At least they aren’t forcing managers to have the “conversation”, most had nothing to do with the decision. Severance sounds good, enjoy the time off, it can only get better for you. Good luck to all.

How were you notified of the RIF?

Thank you to the person below that shared their personal RIF story and package. I pray that you find your next adventure promptly if that is your desire. It's a sensitive and difficult subject, but I personally appreciate your transparency

Wow, isnt neuro their fastest growing division? neuromod or neurovasc? or are you able to share general function like marketing/med affairs/r&d. sorry this happened to you at such a high level too

60 day warn; 2 weeks plus 2 weeks per completed year. Within the neurosciences business where we were showing positive growth. No incentives etc.

Sorry to hear that to the principal below. Can you share area and what you were offered?

Principal level employee just Riffed today

It will be by the end of the fiscal year. All riffed employees will be eligible for MIP- if there is one.
There are too many vps, sr directors and directors. That’s the layer that needs to go..

Which business is the most impacted? I would say anything other than the top 5 and GOSC right?

Anyone knows any global IT layoffs? Will the 10% or so layoff across all OUs?

GO&SC = Global Operations and Supply Chain

What does GOSC stand for/mean?

GOSC April 17th

Nuke ALL DEI before touching individuals who actually do something.

RIF is strongly needed. MDT has become a morbidly obese piggy which urgently needs some liposuction. When I look around in my office space alone, I can instantly name ten colleagues with some fantasy job titles adding no value or whatsoever. Just making some PowerPoint slides all day or working on some stupid projects as occupational therapy, which in the end end up in some drawer. If they would disappear overnight, no one would notice.

IMHO once all the Townhalls have happened. I'd assume 2-3 week April.
I'd gamble if you were "business critical and got the hero pay" during Covid-19 you will be safe from this round of layoffs. IDK for sure.

I have it on good authority that it will be next week.

Shouldn’t HR be the first one on the list?

If you don’t touch the products , stay at home all day or don’t face customers. You can expect to be on the list