I haven’t heard anything since last quarters financials were released. I still get the feeling there are a couple more cents can be squeezed out and have heard rumors of project cancellations. Hoping 2024 will be better than 2023. Good luck to all.
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It’s sad that to see a once great company known to help patients is now outsourcing engineering to save a buck to please the shareholders.
Huh? Medtronic is not on the bleeding edge of cutting R&D jobs. Not even 20 years ago we saw the fall of GE’s very strong corporate research, and we all know how much our current leadership fawns over the ‘GE way’ even though GE is a shell of what it once was.
For a number of years, MDT’s research has been a joke. They discovered it was much more cost effective to let some startup take all the R&D risk and then acquire them early on. MDT’s R&D, like many US companies function as a vehicle to lower taxes rather than do good work.
What's scary about R&D moving to India is that more companies will start doing that as well. R&D engineering jobs will slowly die.
Yeah, you’ll only need a few US based engineers to review the work they’re doing OUS, so at the very least they’ll be reducing to a skeleton crew in the US who will bear all the responsibility of things done OUS.
Here's what they are planning to do in India: https://www.thehindu.com/business/medtronic-to-expand-rd-operations-in-hyderabad-with-3000-cr-investment/article66865018.ece
Quote: The investment will support in key healthcare technology areas like robotics, imaging and navigation, surgical technologies, and implantable technologies, Medtronic and Telangana government said in a joint release.
Looks like pretty much all the big ticket current and future products are going to India for R&D. If I were an engineer at Medtronic I'd seriously reconsider my future here.
So if we are outsourcing R&D to India, do we need our offices in the US? Should Medtronic just move the corporate office to India?
@2eij+1pZPsPN5 They have already begun outsourcing R&D to India. Lots of smart people out there but India has never been known for high quality standards so expect more recalls, field actions and adverse event reports.
That's assuming product is even developed and successfully brought to market. That's a big assumption in itself.
Medtronic Mindset wins again.
Yup
How do you even outsource R&D? Will that cause the quality of our products go down?
Plan is to eventually outsource everything and be a supply chain company like Apple and Amazon.
So your job needs to be aligned to this vision in order to be safe. GOSC has a 1B project for cost savings and working with new suppliers and outsource more stuff, And those savings have to come from somewhere.
Plans are already in motion to outsource IT and R&D in most OUs.
Please provide info on where you are hearing about the layoffs. I’m hearing rumors too and last time around this site was the best place to find out what was going on. Someone knows something.
Q3 and Q4 will be brutal. I expect forced retirements and layoffs.
Layoffs will happen after holidays
I’m not hearing any right now. Probably waiting to see Q3 earnings. More importantly gross margins. They need to increase margins for wall st. Already hearing production for low volume products is slowing significantly
Some Layoffs always happen in April, If they slip on Q3 profits. There might be layoffs