Did anybody realize last week's layoffs were coming? For me, it completely came out of the blue. Now I'm even more nervous that it can happen any day without warning, and it's not helping my mental health at all.
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For the normal person, severance has been capped at 26 weeks for at least 20 years. As a mgr I had to do my first one back then and have had mulitple since and always capped at 26 wks. (VPs and above are separate). I did a few during covid - capped at 26 wks. Then I was impacted in 2023 - yep 26 wks. So perhaps there are some special cases, but the majority of the time, they are capped at 26 wks. I've heard that people can try to negotiate, but I've never heard if that works or not.
@1wj wouldn't dought McKinsey is currently mentoring an assigned 3M team.
@3z4 what did rod the todd accomplish anyways?
From the horses mouth. This round international colleagues gets 4 weeks per year service up till 2 years cap.
@3w5 when the PSD R&D VP was asked to leave last year, he got one year severance pay. He was thrilled to get a year off with full pay.
For whatever it's worth, in the good old days (2000 ish), I had just started managing a new group and headcount reduction demands came down. Not a great way to start leading a new group. I had to lose one person by June 1. It turned out I had a guy who was planning to retire July 1. Guess what? If he accepted the package, he could retire June 1 and then get about a year's pay! HR said "he just won the lottery". As a T5, that was a good amount of bucks.
Sorry Dominik, that' wrong. As others have noted, severance was capped at 26 weeks for at least the last 5 years of Roman's reign. It's nothing new from BB.
It is true that under BB time now, the targets are getting impossible to meet. Yearly expectation 10% improvement. Gets into a death spiral down. Plants are asked to come out with SMP- site master plan. Those plants without a good plan will be expected to be FMR and closed down. This is a brutal reality. Plant directors and managers are going to fight each other for volumes.
@3tv left during covid after 35 years and got over 70 weeks of pay. I think Mike at least tried to give people a decent send-off back then since a lot of companies laid off people in those days.
Not that he was anything better than a schmuck as CEO but didn't seem to be a bad guy. He also let people WYW and didnt force RTO like BB did.
BB is simply a mercenary who doesn't care what he leaves behind as long as he gets to loot what is still left. He's also strategically timed the Employee Survey right before a wave of layoffs sized just small enough to avoid WARN act warning. Plus the 1 to 5 ranking system. Where he can cue up more people to the Wall Street gods at a snap of his fingers. Bring in more 2s and send them to DoorDash jobs. Word is there is a surplus of drivers in woodbury thanks to the layoffs at Solventum and 3M. Thanks Bryan and BB!
Other the usually vague "growth" agenda and unachievable targets he has promised Wall Street, BB has no stinking plan other than collect his 20 million every time he passes GO.
The situation now it seems the severance package quantum has been capped as BB has directed. The payment quantum has shrinked drastically from Mikey to BB. Used to be capped at 24 months maximum but now is only 6 months or 26 weeks.
@3tv Severance is typically capped at 26 weeks unless you are VP or above - then you typically get capped at a year.
@3r0 Five years ago, I worked with a guy in CBG who was going to get laid off.
He was 61 years old, planning to retire at 62.
He was pi---d that he was getting laid off, rather than retiring on his own terms, but he was happy to get the 50 weeks of severance for 25 years of service.
So I can confirm that at at least five years ago, they were offering 2 weeks for every year of service (up to 52 weeks, was my understanding).
But then I knew a guy in finance who got caught up in the 2023 layoffs, and he only got 6 months of severance despite being at the company for 18 years. And he was angry about how little he got.
I know of a co-worker who convinced his manager to award him the severance package. He is 59.
Sure you could request a package at age 55 but don’t hold your breath. They don’t do requests.
Agree-in USAC, I can’t remember anything more than max of 6 months. I know outside USAC things differ.
if i decide to go early at 55 could i request a severance package
Maybe that was special for your organization. It's been capped at 26 weeks for at least 5 years (and possibly longer) in the orgs I was part of and knew about.
I know of a colleague who is near retirement age, and he requested for a severance package. To his astonishment the payout this round is only maximum 26 weeks. It used to be maximum of 24 months few years back during catastrophic A3M. How times have changed.
@3df
Years ago the company use to offer senior employees an additional year of service and a year of age to get people to the bridge, back when some reductions were communicated and “voluntary”.
Now they are sneaky and surgical, cutting perceived redundancy and outsourceability on the advice of consultants. ESC be warned, the new leader is a consultant before a BB lap dog - I bet he has headcount reduction on his EPR and is going to exceed expectations to drive his LTIP. It will su-k when they let everyone who knows anything about the perpetual “interim state” of failed SAP deployment. But ima sure anyone in India or Costa Rica can do a mediocre job for cheaper.
24 months under Roman? Knew someone who was let go about 5 years back and it was 6 months max then.
It used to be capped at 24 months under Romans time.
6 months maximum severence
For those who got this round of layoff, or know of someone who got it.
Whats the payout rate like? Per year of service.
Voluntarily aborted mission few years ago. For anyone JE'd and/or ready to be treated well and open to relocation, a particular medicine company is rapidly expanding in the US. 3M employees would fit well in the culture and probably also enjoy the pension offering. Good luck out there!
Not forgetting they strip off the LTI that left a big gap as these people are no longer motivated. Those 16 and above can drive the targets themselves.
still proud to work for 3m, but we could improve a lot for our great workers at the plants worldwide, cutting out service dinners, everyday wins, production and safety incentives, these demoralized the troops, the turnover rate and absence rates have went through the roof the last several years. BB could do much more, keeping shareholders happy should not be his only job, yes it's important but start showing the workers more respect and flip the morale, great leaders should understand the importance of the true strength of workers , they do the dirty work. Just have a second to think about it BB
I have colleagues who keep on praying to get the severance package as they are near retirement. Do you think their bosses will give in to them?
@1x6 for a few years, Tireman purportedly monitored this web site nightly while consuming his pricy scotch and chatting with Dom.
You could tell at townhalls that he fumed over the criticism and would make off the cuff remarks, especially about the (sweetheart) deals with Kearney.
I've noticed that the traffic is down here about 50 percent since the little man got canned by BB. His Honeywell replacement barely lasted 6 months.
3Ms focus on quarterly earnings targets given to them by Wall Street started about 25 years ago under the egomaniac Mcnerney. Employees are our greatest asset died that day.
Just waiting for the inevitable break-up of what's left of this once iconic company. BB was brought in to machete the pieces off one way or another.
@193 Maybe if 3M didn’t want so many negative comments on this website they should actually make some changes to actually treat their employees better.
If 3M had a backbone they’d be back charging McKinsey for the A3M failure.
@17z I agree working at 3M adversely affects one’s mental health. I know so many colleagues who have depression and anxiety because of the toxic 3M work environment and the level of harassment by their managers. Several of these colleagues had to go on meds to help them deal with the toxicity and harassment. We are all trying to find new jobs but it is not a good job market right now.
@1vc I believe A3M was a McKinsey classic stink bo-b. A3M was a cash cow for them and Accenture for years. Remember when everyone wanted to be on that project? It gave one some job security since A3M was going to take years. Sure enough, A3M went from being part of the 3M family to being disowned like the (former) drunk brother-in-law after a nasty divorce from your sister.
Is Kearney still haunting what's left of 3M? I wonder if Dom has started using his LinkedIn again to announce another promotion
So did another consulting company come in and recommend firing the consulting company that dreamed up A3M?
@1qm knowing 3M this century (except for Buckley who abhorred wasting money of these leeches), the company probably hired one group of consultants to recommend hiring Moni and Tireman, a second group of consultants (Dom and Kearney) to tell Moni and Wee Pete to fire thousands, and a third group of consultants to tell BB to fire Moni and Petey and throw them under the bis and blame them for all the problems at 3M.
Back in the 90s, when the idea of bosses being "part coach" (friendly) to their employees, i went to a 2 or 3 day seminar paid for by the company. The consultant/trainer was quite refreshing. He told us that the reason companies hire consultants is that they don't believe their employees concerns and issues are real. SOOOOOO. pay for a consultant to talk to the people and then tell management exactly what people were trying to tell management. But the consultant seemed to have credibility when all management had to do was listen to the employees.
BB throws in a twist by hiring buddies and pals from his previous experiences. And pay for consultants.
No wonder why the company hasn't had a blockbuster since that private area wart creme!
Thinking outside the box did 3M use a consultant to decide to let Monish and coffee dude go?
@11n you clearly do not work for 3M, or you are walking around with your eyes shut!
Working for 3M and good mental health are not compatible. Find yourself an organisation that values your worth. I moved on from the company 5 years ago, best decision I made in hindsight. Good luck.
@162 I believe he was asked to join a startup with former colleagues from Honeywell. It was too good of an opportunity to pass up.
If company is doing well, why did the supply chain president decided to resign from the job within 6 months of joining? Think about it
Yep it’s all unicorns and 🌈 rainbows.