I haven't heard of any more cuts today. Is it done?
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Not even close to over
Can you say more? I wasn’t here for that
Layoffs are over….for now.
But the wave of resignation is right behind. Estimate 40-50% of remaining employees are looking elsewhere; and if 10% receives an offer within the next 60 days (MedTech fiscal YE ends May/June), there will be mass exodus before the summer months. A smaller wave in the Fall as those who didn’t get their top choice will just leave because they are tired of dealing with the negativity and immense pressure to meet numbers for FY25.
Don't they remember last time we outsourced quality and went under a consent decree in like less than 1-2 years? Really? Guess we didn't outsource enough last time before we re-onshoredso gotta do it again.
Oh great so Medtronic is going to the medical device company verison of Boeing
Not done. I hear enterprise quality has one starting in an hour. More MEIC.
I can’t say who, it’s too small of a group (less than 50). Geoff’s seamen (HR) would know.
Lets not forget about the PH and Bogota Colombia, all the cr-p work paperwork is going there
Layoffs will never be over. Once the offices in Hyderbad and in Costa Rica is up and running at full capacity, we, in the US, will all be laid off.
Medtronic is in a flat spin. Poor results, result in cuts, which results into lost culture, loss of experience, poor morale and stressed out and discouraged employees which lead to poor results which leads to more cuts and round and round we go.
"Is it Over?". For the love of employees, let's hope so! Uncertainties destroy morale and ambition to work. Management should be transparent and inform employees whether it is over or not.
"It's over Johnny, It's Over !"
It's never over GM, It's never over ......
Last post about cutting to make quota is spot on. Not saying it’s the right thing to do, but it’s the method that GE acolytes that infected Medtronic is doing. That’s 2 former great US companies that are dumpster fires.
Budget is flat and if managers need to give increments they will need to let go people....simple maths.
This is Medtronic under Geoff’s leadership: layoffs are never over. In fact, given that they refused to quantify last year’s layoffs in both number and duration, this may very well just be a continuation of those layoffs.
US probably done. International might not due to other laws.
Nothing out of surgical so IMHO there still working on a list IDK tho
Well, since more people are around since summer hours were cut, maybe the RIFs are still going on today.
Several OUs have not conducted their layoffs yet.
Just remember, even when times were good we still had layoffs. It’s just part of working for a gigantic company managing to a multi-billion dollar budget. Life goes on.
The beatings will continue until morale improves!
That’s the result of poor leadership and short term culture.
From a financial POV, a company will downsize to achieve a certain goal; either to meet bottom line margins or to scale back on operations. Companies will generally post/publish a headcount # or $-value target.
In the case of Medtronic, aside from announcing closing of the Respiratory facility in California & Ireland, they have not posted any news or target. Which leads many to believe that it’s a guessing game with moving targets which only Geoff and the BOD knows. Sadly that means many more people will be affected in the near to medium timeframe.
#pathetic_leadership
More next week. More in June.
The first round is over. Unfortunately layoffs will continue in waves until results improve.