Thread regarding 3M layoffs

It’s all about quarter to quarter, stock price, and self preservation for the CEO

Yes, they do it on their own timing with every layoff. In 2019, they announced 2,000 in April and notified employee at the center in July, a full three months after the announcement and just days before the next earnings call so MR could say we have executed on our playbook. Any comments about respect for employees, or even the trite “customer first” are a joke. It’s all about quarter to quarter, stock price, and self preservation for the CEO. Nothing else really matters today at 3M but the short-term because there is no winning strategy.

A great comment by @pfp+1ljtIoNH. More people need to read this.

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| 2081 views | | 5 replies (last February 24, 2023) | Reply
Post ID: @OP+1lk41bf6

5 replies (most recent on top)

I once believed it was about stock price - but looks like they’ve given up on that.

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Post ID: @1flv+1lk41bf6

Next stop 95/sh as in N95

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Post ID: @1lgu+1lk41bf6

https://www.thelayoff.com/post/@jdx+1lk41bf6

It’s possible because you can buy your way on to the list. 3M also buys its spot on the World’s Most Ethical Companies list. For the price of an application and a few “massaged” facts and figures - even 3M can blow enough smoke up the review panel’s a** to get them to ignore the sizable litigation that, definitively, proves 3M is NOT an ethical company.

Keep digging, opposing counsel and victims. The smoking g-ns exist, buried under as many layers of paperwork as 3M’s lawyers can manufacture. It is really unfortunate we can’t bring criminal charges against the so-called leadership of this company.

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Post ID: @1tlq+1lk41bf6

3M N95 masks have kept the company popular in the world , that is the shining light, scotchgard has no shelf life now with the PFA move, meguairs car products will have better products to compete against and people can't afford premier price points for it, someone else pointed out the company will be broke up, it definetly will, there well could be a 5 year shelf life on the parentco side, MR just wants to appease shareholders , he is leaving with a disgusting golden handshake worth around $20 million, and a pension worth 3 times that,

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Post ID: @sxg+1lk41bf6

Crazy that this company still makes it to the best employer in America list ..
https://www.forbes.com/lists/best-large-employers/?sh=50eb2a687b66

How is this possible ??
Unethical organisation !!!

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Post ID: @jdx+1lk41bf6

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