If 90% of a company's employees are happy and 10% are unhappy, then there must be something wrong with that 10%. If 90% of the employees in a company are unhappy and 10% are happy, then there must be something wrong with 10% of the employees. Unfortunately, 90% of the employees in this company are unhappy.
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Is BT still not complete? That pretty much began before some new 3M employees were born.
GE was not facing historic liability lawsuits. MMM admitted in their own financial statements that absent the money from Solventum, they could not guarantee the company would be able to pay for the existing settlements.
GE didn't declare bankruptcy, but split into three different companies. History repeats, especially when the players are similar
Given that 3M can’t actually finish a project (Business Transformation/US plant deployments), I would say they will spin off what they can before bankruptcy but it won’t be enough to keep them solvent.
… Ironic.
Good take, I agree. I can't think of anyone who would take 3M in essentially one piece. A breakup into a minimum of 3 components, maybe more, is likely. (4 counting the Solventum spinoff)
Better question is breakup before or after the bankruptcy filing?
3M will not be sold in its entirety, pieces and divisions will be sold off to other companies over a number of years.
So you think 3M will be sold? But to who?
I guess things compound when you've got a senior leader like The Gibbons. His primary objective every day is seemingly to make every employee in his reporting chain unhappy.
Wah, wah, "just quit"?
I mean, I'd venture to say you're always going to have a portion of employees who are unhappy. But when you cross a certain threshold -- and I'm not sure what that is, but it's clear we at 3M have crossed it -- you have a problem.
Then there's a second threshold -- which again, I didn't know where it is, but it's invite 3M has crossed it -- where you have a critical mass of employees who are unhappy, and productivity is falling.
Except, for 3M that's not a problem anymore. They want us to be unhappy because they're trying to lean out the company ahead of a fire sale.
Mark my words, they're here to break up the company.