Thread regarding 3M layoffs

Bill Brown Day 2 Strategic Thoughts

Bill Brown CEO

"Today was my first official day as a 3Mer. As I get started, my focus is on understanding how I can help our team unlock the full potential of our innovation. With that in mind, I spent my first day learning directly from our team about our science and technologies and how we use them to solve our customer’s biggest challenges."

"Today is my second day as an official 3Mer. I made all my senior managers irrelevant by cutting their LTI/Pay and further made them non motivated to help turn around this once great company around that I just joined. I see from the lack of growth the last 10 years that we are not capable of growing so cutting pay is the next best path "

I will keep you posted on how day 3 goes and more good ideas.

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| 1611 views | | 9 replies (last May 3, 2024) | Reply
Post ID: @OP+1skXgpo6

9 replies (most recent on top)

"The best is yet to come."

  • William Shakespeare

By the way, both Bills love tragedies.

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Post ID: @1jpa+1skXgpo6

There will be a nominal fee for parking on 3M grounds. For your convenience, we can deduct parking fees from your salary.

3M HR

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Post ID: @1bom+1skXgpo6

He will make you pay to use the office space and also pay to use a 3M computer …

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Post ID: @1tes+1skXgpo6

What! No more long term incentive? Brutal. Well if it makes you guys feel any better, they took our cafeteria away over a decade ago AND froze our pay for 3 years.

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Post ID: @1eic+1skXgpo6

Go look out his past CEO ratings.

He is here to make the tough decisions.

WYW program to go next!! Get everyone back to real work face to face.

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Post ID: @ndq+1skXgpo6

@xzm+1skXgpo6

Wake up! This has Bill's signature all over it.

Do you really think that Bill arrived yesterday and HR said "Oh, by the way, we are taking LTI away from mid level management tomorrow." Bill says "Thanks for update."

Nothing this major happens without full endorsement of CEO. Fasten seat belts, most hated CEO of 2016 has just arrived. So much more coming.

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Post ID: @srs+1skXgpo6

Guess they have to cut own employees benefits to mitigate the dividend cut

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Post ID: @whm+1skXgpo6

I actually don’t think this was the new guy’s idea. I heard this discussion a few years ago. Guessing they just decided to make him the fall guy since no one else had the courage to make the call sooner.

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Post ID: @xzm+1skXgpo6

i knew it. the LTI cut for JG14/15 is Billy Butch idea

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Post ID: @icz+1skXgpo6

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