Quite a few Engagement managers working directly with CEO.
What are they up to ?
They are listed as contract workers with direct report to the CEO . Check it out.
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been a visitor to other sites in the UK through forums and I always speak with other employees and discover that some of them, although production workers , they seem to have more sense and a willingness to see the new CEO succeed, seems a lot of employees are just unhappy with constant bankruptcy talk, it will never happen, 3m is too big for it to happen
Someone needs to put together the plan for how the company will be piece-mealed out to scrape every bit of possible value for the CEO & his cohorts before the inevitable bankruptcy. You don't think they're going to let 3M employees do that, do you?
Conversely, a direct employee has 15 years experience. A consultant has 6 months experience 30 times.
Number of year worked at 3M is not an indicator of quality. I work with a manager who is 30+ years (which seems to be her sole claim to fame) and she is incompetent, irreverent, and a complete train wreck. So let’s get over this years spent illness that aged 3Mers live with. No one cares if your first born was delivered in the office toilet.
https://youtu.be/4Cy0vYKI6_Y?si=x_30OR9Xl6X234Xp
This is a great parody on McKinsey!
Even more of a tragedy many of those engagement managers:
- Haven't even been alive much more than 25 years, let alone have 25 years of experience
- Have never built anything more complex than cheap Ikea furniture
- Have never physically worked hard enough to ever have a callus on their hands
- Have never worked on a project lasting more than 6 months
But these sociopaths run around thinking they do actually know more than people who built the businesses they ruthlessly destroy.
I heard Engagement Managers from McK make great power point slides.
That is all they do unfortunately.
C suites adore them since they can claim that their strategic plans are backed by high end management consultants, who apparently know more about 3M than people working here for 20, 25 years !
Half right fake Varys. They are well known for deep cost cutting. They are however heavily dominated by ivy-educated Americans with strong sociopathic tendencies.
My now outsider guess is they would be helping either plan for large sell-offs of businesses and/or bankruptcy prep work.
They have been engaged for future work to further reorganize the company. They are well known for deep cost cuts. And dominated by Indians.
Actually, it does make sense to have McKinsey help develop a "poison pill" bankruptcy plan for what's left of 3M in case the HEALTH related lawsuits (people suing for cancer, other health problems, etc.). Very few of these cases have been settled. Most of the forever chemical settlements are for cleanups.
This could hit well over 10 billion in the US alone. With the innovation goose badly emaciated if not on its deathbed, 3M has little new growth prospects any more (Mcnerney was the guy who started 3M down the path of starving R&D). The copy cat products have already gouged 3M margins for existing products.
Maybe McKinsey can develop a good plan to rebuild after bankruptcy. Like the insulation companies had to do after asbestos lawsuits.
Meanwhile, why did this company go outside and hire a GE guy 24 years ago after a great 1st century.
Everyone knows the McKinsey playbook. For those who have not watched the John Oliver episode on McKinsey I invite you to watch it. McKinsey was involved in many scandals yet companies continue to use them. Get ready for more layoffs, divestitures and, for the grand finale, possible bankruptcy.
Great to know that well qualified people from McK ( mostly bachelor's degree and in a few cases MBAs) are making the next generation strat plans. Attaboy !
Gives me so much confidence for the future.
Very energized to see that money is being well spent ( consultancy rates are $500 / hour? ).
I would rather not spend $$ buying chemicals or planning the next pilot scale run! This is the least that I can do to set up the company for the future.
Thanks for the correction on the A3M consultant.
A3M was BCG. I will say although I hate consultants, at least McK hires the best. Not sure what Tireman’s infatuation with Kearney is other than the fact that his son works there. Kearney takes the rejects from McK, BCG and Bain. They’re absolutely nobody’s first choice coming out of business school.
If it's consultants putting the strat plan together, you can be sure the plan is to parcel out the pieces of the company.
Who's got McKinsey's playbook? These consultants regurgitate the same ideas over and over.
who better to put together the strat plan than people who don't work for 3M, amirite?
Assisting with the strat plan
McKinsey = more layoffs
Didn't A3M model failed with McKinsey?
I thought 3M was enchanted by Kearney these days. What will Gibbons say?