Thread regarding 3M layoffs

Op, we too are all glad u got the fork out…

Would you stop using my son's as the post nickname?

Fake Varys, I can assure you that I use all of my fingers and toes to add and subtract and that I didn’t get ahead because of something my daddy did.

Get your own handle fake Varys

Dominique, it’s ok if you don’t understand finance. But ask rather than making opinions that cast you in a rather embarrassing light.

Okay, so stock is juiced at the moment likely due to buybacks for LTI for the year. The question remains. Will there be actual investment back into this company, or is headcount reduction the only trick known to grow the bottom line quarter to quarter?

Inge was looking out for HIMSELF and his cronies like Roman when he borrowed billions for buy backs and used cash flow from operations to goose the dividend rather than reinvest.

It was shared on this site some time ago about how Roman told a small team of up and comers that what happened to Dow and Dupont (activist investors forced a merger and then breakup into many pieces while thousands were slashed and offered up to the layoff goddess) would not happen to 3M. Well, in the end it did but only guys like Inge, Peter, Moni, and Mikey pocketed millions while shareholders and employees got hosed.

Agreed that dividend cut is the way to go given the circumstances.

Remember the times when Thulin increased the dividends by 20% plus in two consecutive years ( when the norm was an increase of 4 or 5 %, just above US rate of inflation) !

The big question is if new management is going to invest the cost savings for growing the company or will that go to more stock buy backs and padding the pockets of top dogs.

Agreed. Good to have a low baseline to start for Bill.

The dividend cut is actually a good thing. Being opportunistic and taking advantage of Solventum split and attempting to reset the bar for PatentCo expectations. The outrageous 6-7% yield was completely unsustainable.
The company needs to reset expectations on margins and focus on investing for growth! This starts with reinvigorated NPI!

Instead of asking what the share price of 3M was, that VP should have asked JG14 AND 15 how much they've lost without any more LTI. Or better yet, ask people about their GESPP balances.

What a clown!

TRUE STORY

We had the ESC VP gave a talk during the connections Forum. He came out and asked the room about 100 plus people in plant. "What is the share price of 3M?" Following which he said its finally back to 3 digits. He then continue to blurt a full load of rubb.ish and try to convince the plant people about how the company is in the correct direction and how everyone should work harder to keep driving the share price.

I find it's funny as >90% of the people in the room probably didn't own/or stop buying 3M shares. He just look like a fool trying to convince people who don't have stakes like him. What a j.e.r.k.

At least the declaration of the dividend cut did not occur during Mikey term.

We are the frogs and the water in the pot just gets hotter and hotter.

Not surprising at all. Gotta pay off lawyers and Kearney.

Let's see: Sell off less than one quarter of the company, but cut the dividend by more than half...

Anyone doubt my bankruptcy prediction anymore?