All that untapped potential going down the drain, people having to endure so many hardships, and the whole greed factor - it's unfathomable. It's not just about the financial downfall, but the toll it's taking on us as employees. Witnessing it mentally is like witnessing a slow-motion train wreck. And it's not a pleasant sight.
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It’s ok - at least 3M has a full suite of executives focused on Social Justice. By my count, they have a SVP and also a VP of Social Justice. It’s a great gig as they need to spend that $50 million to advance Social Justice!
I find it mind boggling when the Social Justice executives present their metrics and power point slides! Apparently they are delivering so much impact by spending that $50 million as grants money … their PowerPoint dashboards so sooooo much impacts! OMG
That $50 million could have been spent to reinvest into critically needed safety Capital Expenditure at 3M.
It’s like you are in the Titanic and the ship’s Captain decides to do Social Justice programs rather than save the ship. All hail to 3M’s Captains
I proudly gave 36 years to 3M and was (almost always) treated well. I had my share of great, good, and terrible managers, same as everyone. And many great projects. I was always proud of working for 3M.
It disturbs me too to see how M&M have really screwed up the company. We used to win by introducing impactful novel products. Not anymore.
So sad.
actually I love it hahahaha
From this once proud 3Mer, now watching it self destruct from the outside, laid off very unexpectedly, while the top brass coo about how great things will be is just so sad and deceptive.
When the board of directors reports to the board Chair, who is also the CEO, do you really think they are going to rock the boat? They are clearly the very definition of sycophants who rubber stamp whatever M&M say. Their goal is only to keep their $300k annual fee. When Board Chair and CEO are one and the same the board is rendered impotent, as we have not seen anything from them in the last 5 yrs. If they had any shread of humility they would resign in shame. That is the only honorable thing to do. But don’t hold your breath……
Cannot imagine that the board actually agreed to pay these two jokers $100 million between them, for delivering sub par results that destroyed shareholder value completely. Aren't there better candidates out there besides M&M ?
Don’t worry! Mike and Moni will turn this ship around in 5 years! Just trust the process and you shall be rewarded! Ok ok - I am being sarcastic! Between the two of them, they have cleared north of $100 million in compensation in the last 5 years! Let that sink in! That’s a lot of money to F up a company!
OP disheartend to see your GESPP cut by half? Did you attempt to take profit along the way?
Looking from the outside now, it does seem like death by a thousand cuts. If you can, I would already be looking elsewhere, don't wait, stop burying your head in the sand.
And to think MR received over $75mm to watch over this debacle. What a complete joke he is.
So sad, really talented people leaving in droves before the ship sinks.
I feel the same.
I prefer to think the company is like a junkie, slowly transforming from a healthy and wellrespected living thing to a walking dead, who brags about him not being addicted and being in total control, trying to keep its appearance to hide its sickness.