My friend at HQ was just impacted. He was JG 16 and he said they wanted him to sign a "mutual" separation form. Then he could keep his Stock options, but get NO severance. He has 20+ years with the company - this is so crazy. So 3M is going cheap now? Does anyone else have more information on how 3M is now doing separation packages?
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The new hr play is to offer a pip to someone and at the same time they offer a severance package. Pick one or the other. You either work through the pip, or take the package. Your choice. You have 8 weeks to complete the pip. If you fail you still get a package, but it’s reduced by 8 weeks.
It’s 8 + one week of pay for every year of service up to 13 weeks. Most you’ll get is 21 weeks if you don’t take the pip and 13 if you do.
Those aren’t layoffs, those are targeting poor performers.
@OP your friend isn’t sharing all the context with you.
@kk There are many employment lawyers who will take a case on a contingency basis. At a minimum, many will give a free consultation.
Is your friend part of a protected class? If so, it is likely 3M is guilty of discrimination. There is a history of discrimination by 3M.
The EEOC hears complaints based on discrimination. An attorney can advise if an EEOC complaint is possible. MN also has laws which are pro employee which helps.
I left with 26 weeks severance a few years ago - are they not doing that anymore?
This inidividual was not on a PIP and not part of a larger headcount reduction. They are doing targeted limited reductions now so they don't have to report, I suppose? If it is a mutuallly agreed to, then no reporting is needed. I told him to talk to an employment attorney as well. I'm just surprised (although I shouldn't be) that 3M is doing things like this.
@da Recently a coworker was reduced in JG and put on PIP, was given an ultimatum of completing PIP or a rather generous buy out...they chose the buy out. Have been employed by Mother 3M for 10+ years and have never heard of that.
@dk back when severance was months of pay, it was worth it.
Now, I'm not so sure.
I recommend your friend consult with an employment lawyer. 3M is a horrible company and if they are actually laying your friend off and pretending it is a “mutual separation” they need to be held accountable.
Don't sign jack. Make them lay you off. Put in for unemployment and have a nice summer!
@OP was he let go as part of a headcount reduction plan? It kind of sounds like a performance action since it’s “mutual separation agreement.” Normally, headcount reduction comes with a severance package but PIPs don’t…
@OP this is why it's great to be in Europe where 3M has to pay us !
Stock options are probably worth a lot less then severance as 3M stock stays around $150. Do the math before taking that deal!
You guys are getting separation packages?