There will be announced mass layoffs and consolidation plans within a week from now. Underperforming BUs will be restructured or sold and 1000’s will be laid off across the enterprise.
This is first roll out of changes due to Elliott Managment,
Thank you Geoff Martha! Elliott management would have never bought into MDT if you never took over the CEO spot! Enjoy your huge parachute package.
@v9 Not surprising about peripheral. The senior vp president of that group, Dave Moeller, came from marketing. A he-l of a nice guy, but the group has wallowed and coasted for a decade.
I'm afraid the RIFs won't have any severance.
Always layoffs anymore and November not an exception. End of quarter, back up 60 days to avoid Warn notices, maybe a week to sign papers if required. That puts it in range of earnings week. Just pure speculation, but my 2 cents…
On one hand, yawn. If something happens it will happen on teh usual fiscal timeline.
On the other hand, I doubt EM is going to pay a partner bonus to any partner to sit on a board with no results. And I bet they operate to their fiscal calendar and not MDTs.
Maybe saving this event for week of earnings?
Fake. Nothing happened.
@xn I would laugh if I thought you were joking!
Well it’s been a week and no mass layoffs. OP is full of it.
All these layoffs is just making room for more hires in India
MDT is hiring another layer of VP positions to improve operational efficiency.
Goodness please don't mess with the Spring VEPP ... Please GM cut us a one time break !
@ff Neurovascular and Peripheral vascular health
Yeah I call BS on this. It’s only Q2 and all headcount/AOP have been budgeted for the year. Why would I RIF now and risk my plan?
@jz is this real? PVH is peripheral vascular and pelvic health just launched a new product…
@mj Apparently not all of us are receiving it.
If you don’t know octane, you’re not in the company. The pr spam from octane is weekly to all employees. Step away from the keyboard. Get a life. Live a little.
Whats Project Octane. Does not sound like a new product, more like somethin bad coming to MDT employees. UGH
@ff neurovascular & pelvic health
There isn’t much hope remaining after Thierry’s proud launch of Project Octane. Soon we’ll need to provided our own toilet paper and pay for bathroom entry.
Meh, every campus has rifs, firings and out sourcing monthly. Its like being onsite during COVID-19 you just get used to it after a while. Just saying.
@en When? What OU are you in?
@ah Elliot has already been around for a while. Perhaps longer than any suspects.
@ab What are NV and PVH?
Maybe VERP will be amazing...
@en will it be announced in the next week?
@en when is this happening?
Was part of a discussion on how to hit our RIF target. It's going to be bad.
@e2 maybe they have been working on this for months already? And HR can move faster when they’re told they have to. Anything is possible. Stock is down again today.
@ah Agree. You can't change a job title with HR in less than a quarter.
@ab 100% is pretty confident. How did you arrive at this?
@af Oh the irony. The profoundly lucrative irony.
No new news here. There are always layoffs coming! This company has been circling the drain for a long time and refuses to fix the real problems.
B as in B, S as in S.
Target is hitting Corp big time with 1,000 layoffs and pulling 800 open recs.
they said low performing BUs would be hit hard. Any BU that is low growth is being considered for sale spinoff
Let the good times roll .... I guess.
Fake... those who know how the process is will voucher this. A big rif takes months.
Geoff unwinding the acquisition he spearheaded. How does that not make his position untenable…?
"100% confident NV and PVH will be spun out and led by BW"
Maybe the new company name can be called "ev3"
ev2 might be better as the "3" - cardio - never really happened
The great rapture is happening…. Be prepared