Below is an article where MassDevice sums up layoffs in Medtech. At a very basic level, ask yourself why is Medtronic the only company not to disclose layoff numbers? Why are other large med tech companies like Edwards, BD and Bard comfortable disclosing? Why are other large cap companies in the Minneapolis area (e.g. 3M, etc) comfortable disclosing, but Medtronic is not. What does that say about Medtronic’s culture at the core? It says a lot. Culture at Medtronic is one of secrecy and distrust. Innovation is born from collaboration and trust. Investment follows transparency and trust. Employee belonging grows from trust and being united in goals. This is why the public’s value determination of Medtronic stalls and competitor market caps are passing by.
https://www.massdevice.com/medtech-layoffs-companies-recently-reduced-workforce/
9 replies (most recent on top)
Have interview for a role after break that pays 60% more hopefully it pans out
This will not be popular. Omar did not apply GE management principles. MDT types would have flipped out at that kind of accountability. When a GE manager I needed to identify bottom 10% employees every year. Project schedules were to be met. While effective, that is a thing of the long past. Coming to MDT my perception was it was fat, d-mb and happy. Omar did absolutely nothing to shift that. MDT did not see a single system, method or business that Covidien did better. MN is the center of the universe and devolve all functions to MN. I'm thankfully retired but just look at the wrecked value of my stock options. The MDT stock price limbo will have me underwater forever on some of them. While the C-suite repairs that with other payments it is a bandaid. Parkhill went to a company 1/3 the size and will make more money!
Ask Omar Ishrak, he moved company to Ireland and imported failed GE culture, traditions, values and bunch of worthless baloney to Medtronic.
I have not really engaged on any of these roles to discuss final $. But the opening range in initial discussions is 20% better on salary. Surprising number of remote positions from west coast outfits. Hybrid/on-site seems to be the norm from mid west and east coast based.
I expect competition to be higher once I commit to interviewing for roles. I personally know mdt talent I respect on the mkt that blow me away on experience and capabilities but my flexibility in moving for the job may help.
More layoffs will come. Don’t k ow why people want to apply here.
How are the salaries? There are more engineers who are looking for jobs so competition will be fierce.
Hiring seems to have opened up a bit. Started to get recruiters calling again with decent r&d roles. I’m not in a rush and will see what it looks like in the new year.
Though may be beaten by the wave trying to jump ship. Last recruiter said he had 14 mdt resumes on deck.
All you folks with an axe to grind are hilarious. Take your pathetic hard on’s for MDT and find another job if you’re unhappy. Pathetic.
It’s because you are trying to financially engineer greatness. It doesn’t work.