There were several rumors a few weeks ago of huge cuts coming in April, anywhere from 10k to 15k employees. I haven't heard anything about it since then, so I'm wondering if those rumors just fizzled out because they were not true or if we're going through the calm before the storm?
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Yahoo Finance :
So we wouldn't blame long term 3M Company (NYSE:MMM) shareholders for doubting their decision to hold, with the stock down 53% over a half decade. And we doubt long term believers are the only worried holders, since the stock price has declined 32% over the last twelve months.
Isn’t the chemicals shutdown under way
It will happen every quarter until .................
It's kind of odd when you see all the management suddenly trying hard the last couple of weeks like they know. It was almost like they were just skating by before.
Anybody in management without any direct report should be first on the list. There are tons of them in 3M.
Cut out the middle managers and the project managers. They contribute nothing to the top or bottle line! We have too many of them.
Shame they didn't move the people who were/will be affected over to healthcare.
SVPs have to cut their budgets proportional to the loss of revenue from HC spin. It is easy math if you know the top line budget number for the department you work in. 3M proper is losing roughly a third of their revenue so budgets will shrink accordingly through RIFs
I was affected last fall. I just had 2 notices of people saying their goodbyes on LinkedIn. They didn’t mention moving to a new job. Just leaving. Similar to what people say when they were layed off.
I will be huge
Regarding the rumors of huge cuts coming LATE April...it is true (I know, I am one of them). Not saying how I know - too incriminating -- but those impacted will be notified late April and it is company wide...3M has changed so much it's hardly recognizable, very toxic work environment....it breaks one's heart...
So just rumors or has anyone actually seen or heard anything?
You gotta realize a lot of people on here don’t work for 3M. A lot of people are trying to sow uncertainty and doubt as “retribution” for the PFAS and CAEv2, even though the people that caused those problems are long gone and/or dead.
It’s coming, give it till the end of the month around the earnings call. You will get the “My fellow 3Mers email from the clown” so he can reduce headcount to afford his salary for a few more months. No strategy, just padding his salary and buying time.
I think we are in a calm before the storm. I’ve heard we will be exiting a bunch of countries, so I wouldn’t be surprised if that number includes a lot of international folks. I would assume we will hear close to or the day of the Q1 earnings call on 4/25