Currently at the Irvine plant. Demand has been extremely low for months. A round of RIFs already happened a few weeks ago, followed by an extended manufacturing shutdown where most operators have been forced onto unpaid leave after exhausting PTO. Leadership has openly stated their current strategy is essentially to “wait and hope things improve.” Production numbers continue trending downward, and it feels like another wave of layoffs is imminent. Morale is very low and confidence in management is basically nonexistent right now. Just had to let that out lol
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Update: Now people are forced to work 3weeks a month. This is getting worse. Funny thing is, management already knew this will happen since last year. Very bad leaders. Zero transparency.
OK, so if I look across about 5 threads under Medtronic on this site - people are predicting the sale of every single OU except for CRM, CRDN, CAS and Neuromodualtion. Not gonna happen.
@a2 demand is not low. We have poor adherence to net requirements and overbuild. We are sitting on tons of inventory
@d6 getting MMA embolization indication for Onyx is pretty significant. That procedure is growing incredibly quickly - and Onyx is the only product that can market for it.
That said, imagine that Sirtex’s product will likely be a fast follow on it.
No surprises here regarding NV. It lost its way years ago and competition is fierce. Recall didn’t help, Onxy patent expired, and limited funding for new products. The business will be sold to highest bidder. Probably bundled with PV and ENT.
Another extended manufacturing shutdown is coming up for NV’s Irvine site starting from 22nd Dec till 4th Jan.
Meh ... its Xmas MFG shutdown, seems a lot of plants might be using the entire 2 weeks 12/22-1/2 for PMs and such. Granted product sales are down, but you are supposed to save PTO for these 2 weeks. RIFS in Medtronic MFG are normal yearly cleaning house tho.
Wow, someone can't spell neuro.. and another RIF. This is peak Medtronic.
@a2 China bulk orders fell way short of plan. Irvine (catheter plant) is sitting on >$300M in excess inventory per our leadership. It also didn’t help that the pipeline catheter was recalled after 3 people died due to a manufacturing defect. The demand just isn’t there.
@OP thanks for sharing op! I’m not familiar with the products of Irvine facility. Why the demand is low?