Solventum notified employees via video that layoffs are happening. People have one on one meetings scheduled throughout the day.
If you have friends or former coworkers there reach out and offer support.
103 replies (most recent on top)
Any news on severance packages. I think the old 3M had 2 weeks for every year of service. The executives are getting twice their annual salary and bonus plus all stock options accelerated/vested per an article I read!
So hopefully you normal guys (that actually did the work there) will at least get half of that (full year salary and bonus) as a severance package? Please post severance details. I have someone close working there that might be affected. My heart goes out to all affected, especially during the holidays (not good).
Please post severance details.
37 of 124 positions in the corporate marketing center were eliminated. 30% is a lot to cut all at one time. Mine was one of them. Things are going to be a hot mess for those remaining because that team was already lean and the April 1 separation deadline from 3M was already a challenge.
Yup, had my 20 minute this morning. I was a software developer for HIS for 5 years. I'm honestly thrilled. I hated working here, which is not really a fault of Solventum, I just wasn't well suited to the position I was in. Now I have time to invest in pivoting to something better for me.
This was predicted by many. This company has been mismanaged for years. Reps that were laid off, I promise you that you will be better off in the long run!
For those impacted, can you tell us what departments/roles you had? I'm so sorry for those impacted. Thinking of you all and your families.
not happy , Told two hours ago,
I was laid off today at Solventum. I was told there are “a lot more still to let know” and asked not to make a public announcement yet. I did not see this coming at all. The meeting invite hit my inbox late last night and it was a private meeting and it was mandatory and with my boss’s boss so I knew it was going to be bad.
Have spoken to folks in PF and corporate communications who are affected.
No one knows the overall number of employees affected.
My yob
Any word on departments or positions impacted? How long do I have to keep checking my email for the dreaded "mandatory meeting" invite?
They are letting go of a lot of long timers. People who have been there 15, 20 years.
Any word on what the severance package entails? The execs just bolstered theirs not too long ago: https://www.investing.com/news/company-news/solventum-corp-adopts-new-executive-severance-plan-93CH-3704333
Reply to comment around S4/S5 pay being too much..
Speaking to other med device reps, our pay is actually completely out of the ballpark (less than others). We are one of the only companies who pay reps on growth (vs. % of what is shipped) and our incentive plans are way off balance (caps, guarantees that hurt reps, salary vs risk pay). We have not been a sales centered company by the way reps are incentivized and promoted since 3M. The fact that you can only be promoted 4 levels (level 5 being near impossible) throughout your career makes people want to jump for positions that offer better upward mobility.
So yes, while there are definitely reps who sit in the backseat collecting salary, those who are cranking out sales are not rewarded at market level or close to it - which are typically top talent who are fed up.
Just got my 20 min 1:1, yea it's not good news when you see the subject as "Mandatory meeting". It's weird to be let go when I was working on something difficult/complex knowing the next guy likely would have a tough time. Oh well... not my problem anymore I guess. I'll try to leave some notes.
Everybody, please post more info when you can.
I talked to a few folks at Solventum and they said they have been hiring like crazy this year. WHY would they do a layoff JUST AFTER hiring for hundreds of jobs this summer. I'm sure they knew the numbers weren't good long before now. Just horrible how C-suites just can't seem to manage the simple things anymore.
Any word on which divisions are impacted?
Sure get rid of useless positions & lazy folks but I first hand know some of these employees and they are not overpaid and they are freaking great employees! Another company will hopefully scoop them up quickly 🙏🏻
This should have happened along time ago considering how much Solventum employees are getting paid to basically do nothing compared to the industry standard. Most companies pay $80-100k base with another $40-$50k in commission. S4s are earning $120k base with commission at $200k+ and S5s at $140k base with $220k+ commission. All the fat in middle management, key account managers, and useless RSLs. The poor performance and lack of synergy amongst business units. Hiring freezes, spending freeze, travel freeze, and award trip canceled. Too many reps and managers calling on the same accounts. How much ROI is being generated from an opportunity when you have hundreds of thousands of dollars being wasted by lazy people quiet quitting. Time to trim the fat and replace with more Hanson buddies. So long.
I am so sorry to hear - right before Christmas
Where was his selfie this time?
Is it safe to assume the 1:1 meetings scheduled throughout the day are only for those impacted. My manager scheduled a 20 min 1:1 with me for this morning, but no one else I know received the same meeting invite.
What an absolute waste of a CEO. 8 months in and pulls the 3M handbook of layoffs before Christmas. All goodwill he had earned is gone. Just another suit that caves. I hope he drives Solventum into the ground, moral will be there quickly.