Thread regarding 3M layoffs

So this has been going on for almost 10 years. I was 18 months away from retirement in 2014 and was laid off. Lost my unvested RSUs ($500k) and could not retire. Waited and went back 2 years later into a job that was 7 job grades lower because if you are rehired in under 3 years, my rehire meant I could go back and it was not treated as an exit. I was literally able to retire the day I started there again.

This has been going on for years but it was all under the radar. Back then, I was laid off due to a business shutdown and no one had any empathy what so ever. I had no support at all. Now that it is affecting so many others, it is getting on the radar and everyone supports each other. I said 10 years ago there was an effort to get rid of pension 1 liability. That is why they offered early retirements so many times. But they had to stop that because it targeted a specific age group that represented a financial liability.

It is a matter of time until they sell the pension liability to an insurance company to get it off the books.

I took my lump sum and ran and didn’t look back.

I was let go with only 4 months until I hit 55 and had almost 30 years and I know of another let go 2 months prior to 55 with even more years of service.

Does anyone know how many age discrimination lawsuits have been filed against 3M recently? I know of at least one in Hutchinson, because the maintenance supervisors have been sent out by the manager to dig up dirt on the guy suing 3M. they are even suggesting it will REALLY help your career if you tell them something. Good luck, the guy suing was more respected than the manager and the supervisors combined. this round of eliminated the guy's wife and five people that used parental leave in the last year. I used to feel proud of 3M, now I'm embarrassed to admit I work here.

I’m in HR with a large peer company to 3M where data is shared with consultants. I don’t really know details here but what I read in comments but we do protect amongst other areas age groups and have had lawsuits! Good luck

If there is data that shows people who were nearing pension retirement age may have been disproportionately affected, I’d be contacting an employment attorney. If I were an HR employee and knew that there were specific efforts made to eliminate pension employees nearing that age, I would also contact an employment attorney. Age discrimination is illegal and if you have knowledge of it, you don’t want to be participating in the misdeeds of this organization.

Pension freeze is next.

I expect 3M to continue to follow the GE death spiral playbook. Pension freeze is on the list, and that group of Plan 1 employees age 50-54 will really be shafted.

@1oau+1mUh5LRM

It’s absolutely appalling that you weren’t bridged to retirement. Having worked in HR in other companies this would not happen at reputable companies. You do right by the employee. These types of behaviors are why I left 3M. It was so clear that employees don’t really matter when it comes down to organizational actions. Can’t work for a function that treats people that way.

Who in HR will provide the number of people between 50 and 54 let go over the last 12 months on pension plan 1? They would only provide a list of eliminated employees for the specific group let go including age and current job title. Nothing about the pension plan. You must be in HR with privileged data.

You can ask for this information and, if you are over 50, HR will provide it.

Post ID: @vwc+1mUh5LRM

Nailed it. Campbell was questionable at first, but once McNerney left he found a new center since he discovered he had a real, honest company that didn't require "GEing" the books.

For the record, I'm in the same boat. Eliminated after 35 years, 18 months shy of early retirement. Shout out to any other SPEC participants. My Right Management coach (former C-suite level O&G employee) is stunned that they didn't offer a bridge. But here we are. Every drop of blood we sweat out is another vacation home for MR and Moni.

SIBG USAC M&SC (Operations Now) Eligible Employee List at ~103. Age 50 - 54 totaled 18. Interesting that only 6 or so were under 30 years old. Worked many years in finance for 3M and Pat Campbell, David Meline and Nick Gangestad would never have done this (Giulio Agostini not so sure as he hated Americans). Tireman