Where is the rumors of this 8000 RIF coming from? Does it include the employees from divested businesses like Renal+ PM+RI ?
Seems like a bloodbath if they do go through with this. Almost 10% of the company
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2K spinoff
6K remaining MDT
10% workforce needs to be gone for wallstreet to react significantly. The stage is set with feb 21 massive cost cutting announcements by CFO.
This needs to happen fast, soon so stock can bounce back to low 90s levels
Tune in to the 21-Feb earnings call…no way they announce/leak anything before then.
I heard GM said to cost $1B across the whole company.
I heard there is $73+ million in targeted reduction (via cost savings programs, headcount reduction, etc.) in global supply chain & operations. That seems massive.
I assume it comes from the Spin-Off intentions. As the affected segments have appr. 8000 employees according to several news articles.