Is minimed still part of Medtronic? I see minimed staff still on ms teams. Anyone know when they are completely independent?
Is minimed facing redundancies as well? I'm wondering if its a good idea to make a shift to minimed or stay in Medtronic?
Any minimeders - can to share your insights? Are things looking good on your side ? Which departments are doing well?
The people who left our org for minimed at the initial spinoff say that it is an incredibly stressful environment and some key leaders have left as a result. It sounds like it’s truly a Mini Medtronic with everyone overworked and unrealistic expectations set by top leaders. Those who initially left do make more money, but they’re just as miserable as us.
The fast money on MMED is over. Congratulations to those that bought the IPO dip. If you (we) are granted MMED shares, place an open sell order at a predetermined price ASAP. Diabetes stocks rise and crash fast. Then place your gains in another sector like cybersecurity.
Imagine voluntarily going to work for a company headed by Que. Ew.
@aw they replaced the pension benefit by guaranteeing 100% 401k match up to 6% when I think we got something like 3% plus whatever kicker they decided on. So it doesn’t exactly cover the loss of pension.
Short Term Incentive- this is the term for field based reps that were paid bonuses based on sales performance. With the shift, 50% is based on organic rev growth, 30% adjusted EBITDA and 20% OKR performance. The positive side to the shift is we can see up top 200% for over performance but we all know what that really means.
@at thanks for your quick reply. Mmmm pension is something I value. So maybe I will stay at Medtronic for a bit longer. My pay has never been great at Medtronic. But the other benefits have always made up for it.
Thanks for the honest review. Out of curiosity what is sti? And promotions are they quicker in minimed or Medtronic?
Minimed is still a part of Medtronic until we break off in November. MDT still owns a large part of MMED but all ties will severe in the upcoming months.
Surprisingly we have surpassed rev targets the past two quarters as we have launched a new pump recently. Product horizon looks good but as far as being an employee goes, you’ll lose your pension-if you have one. Standard raises this year were 2.7% instead of 3% and education benefit is also gone. MIP is being replaced with a STI that was announced two weeks ago.
You’ll be replacing one incompetent leader and fluff filled leadership roles with another.