Any updates on SpinCo timelines and activities? It seems like it should have a name registered by now, but not familiar with when it would be needed. I heard recently that there is something called silent recruitment happening, which I’ve never heard of, so reached out for info from the hiring manager on an actual SpinCo posting. The hiring manager posted said they are not the hiring manager and there was a known issue with SpinCo HR postings. Is SpinCo still hiring? It seems perhaps over staffed and still small amounts of postings, known issues with the postings, and silent recruitment (assuming this is real)? Thought about SpinCo, but they are still spinning off 3M and lots of red flags now. I never paid attention or had interest in SpinCo, so perhaps it has been like this all along? Either way, I am choosing to stay away
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You may know 3M as the mega-conglomerate that poisons the east metro and deafens our soldiers. But did you know the Minnesota-based Fortune 500 is also comically inept at naming stuff? Look no further than the just-debuted brand name for its new health-care spinoff... Solventum. Now, you might be asking yourself: Is that parody-a-s-sounding word really a portmanteau of "solving” and “momentum.” Unfortunately, yes! That's according to Fred Melo at the Pioneer Press, who reports that the $8.4 billion in health care sales (see this semi-related study) 3M is funneling into this new, independent company will qualify it as a Fortune 500 right out of the gate.
In total, Solventum will employ 20,000 workers, 1,180 of whom will remain stationed locally, a company rep tells the PiPress. (The company announced 1,100 layoffs at its Maplewood HQ earlier this year.) Melo didn't press Danette Andley, 3M's senior VP/chief marketing officer, on exactly how many monkeys stationed at how many typewriters divined the name, though a press release offers the following inane intel: "The new logo will take inspiration from the company’s future drive to never stop solving and transforms the ‘S’ from the name into an expressive symbol of limitlessness." We're guessing it'll look a little something like this. Solventum—which honestly rings more like "slow" and "momentum"... or a sleepy robot-type Pokémon—is expected to become an honest-to-god thing early next year.
I wonder how many employees SinkingShipCo actually has at this point, it certainly isn't 92,000. SinkingShipCo HR would likely say that counting people is racist.
Why would you think the McKnight principles would come back?
Looking forward to the McKnight principles coming back to the company.
RemainCo: Insolventum
Like the name, complete break from 3M.
Latest on the HQ is the 275-270-260 complex at 3M Maplewood headquarters. Makes the most sense as a starting point with the least disruption.
Did they ever announce where HQ will be for spinco?
Any odds on a new The Layoff link: Topics regarding layoffs at solventum
3M has 92,000 employees.
You would think our sophisticated succession plan could produce one CEO.
Why do we even do performance reviews and rankings?
I'm sure someone was thinking "problem solving" but I immediately thought of solvents, too. Good name for a refinery or distillery, though.
Seriously!!!! Solventum sounds as solvents!!!! New company should separate from RemainCo chemical liabilities and have a brand really from any perception of chemical. Separation team cannot do anything right. SpinCo will be the next Imation. Hope new CEO and his team move faster to mitigate impact from 3M mediocrity.
Interesting (perhaps prescient?) that solventum means "paid" in Latin.
New name is “Solventum”. Completely dropping 3M from branding. Green color scheme with a simple “S” shape logo.
The Spinco name will be announced later today, and it will be a clean break from 3M. The actual leadership Bryan Hanson is appointing is mostly from outside 3M and he’s actively looking to change the culture so that Spinco is truly an agile med tech company. People he’s appointing have experience with spin off companies, so hopefully they can avoid some of the common pitfalls.
As another poster mentioned, I too am part of Spinco and am excited for what is in store.
Sadly, Spin sooner or later will face deep supplier challenges with remain. Overarching equity from remain will also handcuff Spin investment strategy and cash flow. The debt structure of Remain will continue to be a challenge and given minimal investment in new technologies, will lead to more divestitures. Ultimately revenue kick backs from spin will run dry. The snake swallows its own tail. F_yewverymuchgee-e rejects and Jimbo Mick toxicity.
I’m actually really happy to be part of SpinCo! I feel like we’re leaving all our red flags behind 🤷🏻♀️
There is a big annoucement scheduled for tomorrow, Nov 16th regarding SpinCo. If it's not the name, people will be very disappointed.
Everyone I work with is surprised we have not announced a new name. The attorney who supports my old division did mention a few months ago many of the trademark attorneys at 3M left but not because of layoffs. They said nothing else. When I worked at another company the trademark team did all of the trademark clearance.
SpinCo is still 3M with a name change. It already looks and feels like current 3M culture. Maybe it’s leadership will eventually be better, but there is no built in credibility left for anything 3M, so they have a lot to prove- I think it is wise to avoid now, and if they prove themselves later, it is simply external if you still want to leave 3M