Any buzz at 3M about the Scott Safety acquisition from Johnson Controls? Will they keep the Scott Safety personnel or lay off most of them?
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Reorgs are taking place in Scott Safety group. Even an engineering director got demoted to a project manager role. Won’t surprise me if people leave on their own before the choppings begin.
When they acquired Capital Safety, they got 1500 new employees; before the end of the year they laid off 1500 old employees. So, revenue net gain, employees net neutral = productivity gain! Curious to know what senior bonuses are tied to 'productivity'...
I also know that a lot of the people who left in 2015 after Capital Safety (and those were across the board layoffs, not just in safety) were in the old (defined benefit) pension plan. There was a 20-something in my old job within weeks.
The acquisitions I have been through, layoffs happen to purge low performers and within a year the company is looking to fill positions.
I've been through acquisitions. Typically, the layoffs happen after the acquisition. The new owner storms in and starts to make changes. Those 40 openings, I assume, are currently happening under Johnson Controls. What makes a number of us nervous is what happens after the acquisition and the dust settles. I think that's what the original poster meant.
Well they have 40 plus new positions posted so I am guessing they are not looking at letting anyone go.