You can't constantly be having layoffs and consider yourself a good leader. That's not how it works. Layoffs are the best sign of truly awful leadership that had to resort to the easiest way of cutting costs because they didn't know how else to improve results. People who are running this place are a joke.
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I am in shock on the mediocrity of leadership decisions at Medtronic, this was the nail in the coffin andin benefits to competitors, who seems more careful in the sensitivity aspect of Healthcare and patients. Yes many industries had a scale of layoffs, but we are not selling TV, are we ? Congrats MDT, you just butchered what was left of it.
Brain smooth, bow tie shiny, engineering greatness.
The arrogance and ignorance that protrudes from MDT leadership is evident to everybody but them. Those who leave MDT are happier than when they worked there and it’s quickly becoming a place for young professionals to avoid.
@1sgy+1sqit14J Any organization the size of Medtronic SHOULD have layoffs every year. It’s just a standard part of talent management and evaluation. You can’t just endlessly hire new talent without firing lower-performing people.
Expect an annual layoff moving forward. New budget model for R&D orgs is a flat dollar amount. It's a zero sum game. Raises, promotions, and new hires means the money needs to come from fewer people.
You guys don't see it. The leadership we have are good. Their only goal is to be short sighted and make cuts to hit quarterly targets for the shareholders. Once leadership hits that target, they are bailing with golden parachutes. It seems like they are on the right track.
As for the rest of us, it's our fault to enable them to do this. It's time to unite.
Remember, everyone has a part in owning the absolutely atrocious performance of MDT since about 2019. It seems MANY of the current employees are not cut out for the job. You can’t put up the type of results Medtronic has without incompetence from TOP to BOTTOM.
Im free to leave and look at endless job listings that are fake just to pump up the stock prices of their companies.
They aint even playing the same game as us.
How many today?
Glad GM has his priorities straight by giving a commencement speech at UoM CSE. Thank you for your leadership during these layoffs!!
It is not the company it once was. If you don’t value employees, they will not value you. Back in the early2000s to mid, there was a bleed on talent and many went to BS. No wonder they are now doing better than MDT. Learn the lesson leaders!!!
I agree, destroyed everything Earl built. Made a joke of the Tenants. Warped the culture by letting their senior people go through layoffs.
Now full of greedy leaders who care more about lining their pockets than they do the people they managed.
Instead of growing organically (invest in R&D and innovate), leadership would rather put a new coat of paint on existing products and outsource our jobs.
What a shame this company has become. My heart goes out to all those impacted today, what a miserable day. We used to dwarf BSX and now their market cap is larger than ours. I've seen BSX build team after team in my local area meanwhile we don't have enough product, don't have enough support and have no clinical trials which customers so desire. The competition doesn't seem to have those same problems. Earl would weep if he could see the current direction of Medtronic.
I saw this link somewhere but we are doing exactly the same under this GE leadership.
https://www.managerism.org/topics/companies-industries/thinkpiece-no-38-2
https://www.logicallyfallacious.com/logicalfallacies/Traitorous-Critic-Fallacy
I encourage you to work on your empathy.
The do more with less has been burning people out and dropping quality. Taking away and giving small raises has caused many to just not care anymore. I saw it and I left. After being there 25 yrs I only felt defeated and not valued the last 5 years. Could not take it anymore and bailed. My timing was perfect. I miss my coworkers and feel their stress and anxiety. I hope things change there.
Now we're seeing what it looks like to "do more with less" and "the power of AND"!
@mgh+1sqit14J They did those last year; a more junior employee was promoted into my eliminated position 2 months to the day after my layoff call....
MDT folks are looking for the next boat out. Just because there isn’t a stampede don’t think they’re not. I ran into my bu peer at a on-site interview :-0 Check back in a yr and see who updates their LinkedIn to Amazon, bsci, or Philips. I’m betting it’s more than the usual attrition.
They're still doing MIP, raises, and promotions this year... which I don't understand. I would rather not get a raise, bonus, or promo if it means someone can be employed longer.
Layoffs are made by leaders who failed upwards
Last year, Geoff had the dignity to shoot out an internal email about layoffs. This year I guess he doesn't GAF.
Layoffs do not work to improve company performance or reducing costs. Severance packages cost money, layoffs increase unemployment insurance rates, and cuts reduce workplace morale and productivity. The company says that people are their most important asset, but behaves differently when times are tough.
Layoffs aren't unavoidable facts of nature, they're active decisions which reflect the priorities of those in power.
You’re free to leave Medtronic if you don’t have confidence in the way the company is run.