Leadership seems completely focused on short-term gains, cutting costs wherever they can, and keeping stock prices up for the moment. Employees feel like replaceable parts, and it’s clear that long-term health of the company is an afterthought. There’s no sense of investment in people or the future here.
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@r1 I can attest to the unusually large number of promotions, at least in P+F. In that case, maybe they were bumping up comp for people to put them to a higher salary to position them better ahead of the TFScientific close.
3M is just trying to manage the decline. Once Solventum split is complete, it will be on to the next moves……cuts, divestitures, etc until the end
@r0 Solventum may have gotten smaller raises but there have been a very large number of promos as well, to high levels. An excessive amount.
Deep pockets? As if, 3M saddled Solventum with $10B in debt. Bryan Hanson can't sell parts of 3M HCBG fast enough to get out from under it all. Solventum got smaller raises this year than 3M, and I'm not sure about the paid certification stuff.
Formal time off is the same, however solventum does get "sunshine fridays" aka half day on fridays in the summer. Plus Bryan is keeping work your way (for now) so that he can justify taking meetings from Florida.
Solventum seems to be the spin off with deep pockets. Hearing many things the staff are getting for time off, raises and paid certification to name a few. 3M was left with all the penny pinchers who undervalue progression but expect the moon.
The pool eligible for LTI award has shrunk to an elite small group. They are motivated to drive 3M results further.
Its a shrewd move to strip LTI from a larger group earlier. Well done BB.
BB will pressurize from the top.
SVP VP directors will get it first since they are all incentivised by LTi options.
To the rest of lowly fellows, suggest just quiet quit since you guys have no major stakes.
In the Jimmy Mac days you were seen as an indirect expense. Classic know it all bean counter.
BB is likely being paid to find companies willing to buy one of the BGs or instead spin off pieces like SOLV was done by Mikey.
He loves to talk innovation but doesn't invest any more in core R&D that Inge or Mikey. Simply a mercenary making 20 million. That's why quiet quitting is called for. Treat employees like dead fish, get back rancid performance.
BB is gong to hit 65 in another couple of years. What long term investment horizon do you think he will have?