Company must be falling apart, they want to make sure people don't get paid for Thanksgiving the next week (monsters) Got to ensure BH gets all $40M
44 replies (most recent on top)
@28g
Im an acute rep and just got the phone call
Anymore updates on impacted department layoffs this week?
Any sales roles?
@200 HIS but my team isn't that big so I don't know what other areas or groups are affected
@1zv what departments?
It's starting.
Do we know if sales is being impacted?
@169 what teams within procurement?
@10t global affairs was pretty much wiped out. some people from clinical affairs.
@14c 4 people in Procurement, unknown if all in the US.
Anyone can share what roles were affected and what regions?
@zq Bryan had a chance to really revitalize HC business and perhaps would have succeeded until Nelson Peltz (83 year old corporate raider who should just be enjoying life on a yacht with shrimp co-ktails) decided HE wanted to run a company (into the ground).
A true leader would have told Peltz to pound sand and stayed on a true growth mission. Unfortunately 40 million goes a long way these days. Never thought Bill Brown would have been a better choice but at least 3M share price has doubled under his leadership.
One has to wonder what Bryan says to himself every night when faced with another round of layoffs. Perhaps it's time to hire Tireman and let the little man and his scotch show Bryan how to layoff people during townhalls.
@10q I will clarify, clinical affairs not clinical specialists
@10n where does this information come from? I feel like they will go to having one CS per state or per region.
@109 they began notifying employees they were being let go on Monday.
@107 essentially all of clinical has been slashed. Very very few positions remain
Solventum is really struggling while 3M is doing great.
Wish Solventum could figure out their margins like 3M? Wonder if some of the issue is the way 3M pushed, pushes cost to SOLV?
This is basically an industrial company that thinks it's in HC.
Too bad 3M had to spin it for balance sheet reasons.
SOLV management team is failing unfortunately.
@10b he really raised a good point. We are getting so many VPs etc, but where’s the ground staff to actually do the work.
@10a I thought read between the lines was referencing the AIP piece of the question.
@10a Someone in the room asked about the layoffs. He basically said layoffs will be part of transformation. Left it real open with no intent of easing anxious employees. On a positive note, we are all founders and can now buy a no-growth stock at a 15% discount.
@109 did he explicitly mention it or we had to read between the lines
He mentioned there is definitely going to be layoffs. If this occurs do they let you know on the 21st?
So will there be another round of layoffs? Man, getting sick of this.
@wy what clinical positions are these specifically?
Wtf is this Town Hall
No mention of layoffs / job eliminations so far in town hall. Maybe it's coming. Seems like a miss not to acknowlegde it.
Chris Barry is gone, are we cooked chat?
I heard that CB's son died, so let's take it easy on that part...
Looks like it isn't people first. It is not really CB, but BH. BH laid a nice story at the start and today it doesn't resemble anything like the strategy at early spin. It is more toxic than even mother 3M. What type of company are we becoming? It is disgusting.
Approximately a year ago, a toxic VP in one of the staffing groups told his org CB was having issues in ‘personal life’. The comment was made to all people in his org, not just direct leadership. It was bizarre. Been waiting for a while for this exit. When have you been given over a year of grace at work to support your personal issues?
“All is well…All is well”
To quote Kevin Bacon in Animal House parade scene.
Look it up millennials
Just wanted to say that I am so sorry for all those impacted by the latest round of layoffs.
Huge cuts across medical affairs today with entire departments being eliminated
@wy 16 clinical positions being eliminated is true. I can confirm that.
Do you know what positions have been impacted so far? I just saw the note about Chris Barry. Very interesting.
Unsubstantiated rumors: I heard 3 quality employees from St Paul, an unknown number of quality employees from San Antonio, and 16 clinical positions have been eliminated. Rumor is that 3% headcount reduction total is incoming with some of that in Oct/Nov and the rest in Jan.
@wt Five managers have been let go that I know of and the VP Chris Barry also had his position eliminated. Management is in a meeting in Chicago right now. Hope people update this thread as more comes out.
Did anything actually happen? Haven’t heard anything
@r5 does anyone know if it’s global? Or certain regions?
What division?