Thread regarding Medtronic Inc. layoffs

Programmatic Savings blah blah blah

I work in R&D and have seen ballooning Operations Innovation budgets such that they can’t find enough projects to spend it on. This has resulted in severe cuts to R&D project dollars, especially for the mature OUs with what Geoff would call poor performing due to single digit growth.

Many functional managers have had to come up with “programmatic savings” projects just to get OI money to cover their engineers.

Why try saving $50 from manufacturing a device when they should be going after market share with innovative products???

Give it another 5 years and there will be no market share left.

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| 1411 views | | 6 replies (last May 9, 2024) | Reply
Post ID: @OP+1srwwA1C

6 replies (most recent on top)

Every cost saving measure recently has been the definition of penny wise, pound foolish and it just gets worse and worse.

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Post ID: @qoe+1srwwA1C

Medtronic has a culture problem where the idea that there are painless ways to save money has permeated all the sr management decisionmaking but they are always decisions that make life worse for the employees.

Case in point: Couple years ago I was traveling, returned my rental car, and then discovered after my expense report was rejected that I was on the hook for refueling my rental car because I did not stop at a gas station on the way back to the airport, I let National fill it. MDT knows that its typically cheaper to fill at the pump than have the car rental company do it, so they put the onus on the employee to find a gas station, near the airport, refuel, save their receipt.... even if it this means you have to leave your customer meetings a bit earlier than you wanted to. Lots of employees try to pack as much of their time into trips as possible but the bean counters in the expenses department would rather these highly paid professionals take an extra 30 min to fuel up the car to save $5, or the will penalize you by making you pay for the gas you used on a business trip. Its insane.

The fact that no business leader stands up and says "this is crazy, I want my people focused on customers not worrying about saving a few bucks on gas" tells you what you need to know about current leadership.

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Post ID: @obb+1srwwA1C

Medtronic is no longer a company that innovates. Medtronic spends more time and effort trying to save a dollar.

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Post ID: @tlb+1srwwA1C

They hired so many program managers, scrum masters to count beans.

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Post ID: @dlk+1srwwA1C

Innovate or perish.

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Post ID: @euk+1srwwA1C

Yup.

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Post ID: @dvd+1srwwA1C

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