Stock price 83
No companywise layoffs but BG reconstruction 2500jobs
Keep winning
Better position
Trust the process
8 replies (most recent on top)
You just described the platonic ideal of the logical fallacy 'distinction without a difference'.
BG reconstruction means independent business group action, determined by that leadership team. It is not a corporate action - a fine line.
There are more layoffs coming, which are not included in the original 2500. They have labeled these as part of the transition of USAC roles to the global service center in Costa Rica. An incompetent group with a high turnover rate and increasing backlog.
Thankful that I sold all of my 3M stock three years ago.
Stock 83, I suppose people will have to postpone their retirement to 75 year of age.
I don't doubt that senior leadership would come up with a dishonest way to lay another 2500 people off. I do doubt those people would be allowed to find a new position. The rules about postings only being available internally for 7 days (or whatever the timeframe is) before being exclusive to external hires pretty much disqualifies all postings from "saving" someone's 3M career.
Business Group
2500 layoffs
Or forced to take positions in SpinCo / other divisions..
What is a "BG reconstruction" ? You're saying 2500 new hires? Or 2500 further layoffs but they're not called "layoffs"?