Stock price is low, staff motivation is low, sales are low, and rumours abound.... where does the decline stop?
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When rewards team or program leaders, please remember to reward the people who actually have the job done.
Most good products in this company are made by low paid, badly treated but loyal employees.
Guess what are not low.....
Growing ......Combined salary and total compensation of all 3M executives over the past 5 years keeps growing at an accelerated rate....the number of executives (VP plus positions) keeps growing inspite of regular layoffs of worker bees and hence mathematically speaking so does the compensation paid out by the company to these supposedly high potential employees.
Growing ....Fancy PowerPoint deck with strategies that will grow this company and finally spur the innovative machine to move again, clockwise that is.
Growing......meetings related to prioritization and strategic initiatives
Meanwhile the worker bee at the bench is clueless as to how to make the next product with increasingly shrinking resources and manpower!
- many of the VPs and above that are left have been at 3M for 20-30 years and only got promoted for who they knew or just by hanging around so long. They are terrible and toxic leaders. They could not get a job anywhere else even if they tried. They hate new ideas and anyone who is new to 3M. But there is no reason for them to try. They are paid well, can treat people badly, do a bad job and their jobs are safe
a. you can pay to be named a top employer. they have been riding that for as long as I can remember. One look on glassdoor and everyone knows to stay away.
b. the amount of corrupt business practice fines etc the past year is embarrassing.
c. anyone who has value, has left. You have a bunch of newbies out of college with zero experience and a bunch of people trying to hang on until they retire. The middle ground of talent...gone. Not saying either of the groups left don't have value, but you can't warm the bench without a coach. And you can't coach if you are burned out and just trying to survive.
d. leadership just needs to be dissolved and let go. Get fresh blood in, so many mistakes and missteps.
BANKRUPT.... it will happen in 2025/2026 for remainco, spinco could be an amazing business if Hanson keeps a strong backroom staff . Just a pity the MM+M name will be no more
It’s stops with bankruptcy
Tell me which CEO has continue to stay on a job, when it's share price has declined by over 60%. Now many correct?
Company lacks momentum and morale! Agree that a lot of talented employees have left or are actively interviewing for jobs outside!
ROCK meet bottom (not yet)
They should put Roman and Monish in jail.
Bk is when it stops
Michael Failure Roman.
Worst CEO in 3M history
- Innovation is dying
No where.
- Monish will be the next CEO
- Most talented people left
- New fresh talent are afraid of being layoff, will not join a sinking ship
- Health care spinoff. 3M will be kicked out of Dow index.
I can continue but you can see the reason
Yes, but Forbes has named 3M as one of the world’s Best Employers! Not sure what that says about all those other employers
It stops when Mike Roman and his gang of miscreants depart, and the new CEO fumigates.