Obviously we are all hearing there could be massive layoff's announced tomorrow.
Anyone have any insight into the specific teams/groups that are likely to be hit?
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What remains of TTS, IT, whatever you want to call it gets off-shored and outsourced. Real IT work stops and minimal maintenance begins.
Ugly earnings numbers, terrible organic growth! But hey more of the same self serving BS from Mike on the earnings call. More money for Magic Mike, and more bullets for 3M Employees. Romani incompetence gets rewarded for contributing nothing. Shocked I tell you said nobody ever.
@1wyg+1miwB08I. CRL full break-up and absorption would for sure imply RemainCo is doomed, as it would further reinforce that the decision makers don't have a grasp at all of how technology and expertise is shared across divisions. I've had to rely on CRL countless times throughout my career, whether materials, analytical, or process experts. In a division, you can't be an expert in every single discipline, so you need to know who to pull in at the right time. If we had to now beg different divisions to lend us an olefin or extrusion or NMR or whatever expert, it would be ludicrous and an impediment to developing new products. Oh, and what are the chances divisions would be willing to loan out key individuals if they're worried about their own P&L?
No accountability by Mike or Monish. Big, bold changes. Optimism. Excuses about macroeconomics , litigation, supply chain, Russians. Diversity. Equity. No real decisions. Meaningless corporate speak read in halting, stilted speech fed to us by expensive consultants. Plans to make plans. Better organisation in the future.
Will we see Monish aka s-xist GE-employee?
I think it will be big… making less divisions or shaking up something large and not just layoffs.
And stocks will… not improve. Because that’s what happens when he talks.
@1fwu+1miwB08I : The analyst estimates I'm seeing are centered around sales down 15%, earnings down around 40%. (Both YoY) I hope for our sake they are too pessimistic, but sales up single digits is a more than a bit optimistic.
The CRL comments are interesting. I would take a full, or nearly full, breakup of CRL as a clear signal RemainCo is entirely doomed to bankruptcy and further spin-offs/sales are certain. I don't consider the movement of HC-focused people to SpinCo as a full breakup.
Yoy sales up single digits. Slight beat on earnings. Mass layoff. All the people who think were down double digits or even high single digits are just flat out wrong..
I predict the stock price goes below $100.
I predict the system crashes due to record number of call ins to the earnings call.
Move corporate labs to divisions for spin options.
Last year a substantial number of CRSL got moved to HISD. Multiple people working on healthcare stuff in CRL are moving to Spinco anyway, and they already have received emails.
What else is there to move. Are you one of those losers who is always asking why CRL is not being dismantled or other people are not getting laid off.
I bet they do not say "excited" or "winning."
I expect an earnings miss, downward revision of CY23 guidance, a plan for substantial staff reduction, the company to earmark substantially more $$ to combat arms litigation, and underwhelming updates on the status of HCBG spin. The company may take one time charges for combat arms and restructuring to rip off the bandaid. Stock craters down to $90 a share tomorrow.
Move corporate labs to divisions for spin options.
Lots of pain.
My prediction? Pain.