Just heard that SIBG went into a hiring freeze in January. Widespread or just SIBG?
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@32w when was this direction set? I still see a lot of jobs posted and have heard of interviews still occurring for those roles
There is currently a company wide hiring freeze.
Wall street is very pleased with 3M performance. Stocks jump above $170. Great job BB
Everyone should realize there are hiring freezes and layoffs going on everywhere in 3M. Duh!
Everything is freezing, including my boss's brain
SIBG will have another carve out in industrial business, pruning and plant consolidation. It will not be spun, but will have attrition and some cuts related to ongoing restructuring, while maintaining a hiring freeze
I think that's unlikely. That is the largest part of the company, I think. It wouldn't make sense to spin or sell SIBG off and keep the rest. Would only make sense if the whole company was split up.
Isn't that business the majority of the company.
SIBG is one of BBs priority areas to divest next. He can't be bothered with labor costs. He's hoping someone will buy it outright but a spin may be a better idea. Saddle it with debt like Roman saddled solventum with 7 billion.
Not sure about other businesses but this was very predictable for a business the Big Guy wants to unload.