Thread regarding Solventum layoffs

@24h Perfectly said, and I think "the people" who post about these things constantly is really just one person.

@24s So... are you @d7, @pd, @qm, @vp, @zq, @10v, and maybe others here?

No need to be sensitive and claim we are Bryan's paid actors, or brag about your quarterly marital embrace / movie date. Just take the feedback, which is surely something your parents told you (or should have): "Hey, so it's really only funny the first time."

We get it: Bryan is money obsessed, he's the puppet of "ol 83yr old Nellie Peltz," both spend their lives on yachts, Solventum is sinking, we should leave, we should magically age so we can retire like you, you are enjoying your life while we are miserable. Got it, no need to say it again.

For how happy you are in retirement and how much time you spend playing golf, why loiter around with us losers so much?

Anyway, hope your computer chair is comfy! [I mean, cough, the golf cart seat you're riding around on every day... riiighht]

@24s you provide no useful information. No one here is cheering for Trian or Hansen. You spend your retirement spouting the same information we already know on internet forums. Congrats on getting laid, how cool of you to share that with strangers. It's gross and pathetic. Get a life.

It's clear Bryan wisely surrounded himself with loyal people who will take the millions and insulate him from accountability.

Trian and Peltz are merely 21st century pirates who go from company to company, using other people's money who invest in Trian for supposedly "superior" returns, and extract short-term gains at rhe expense of employees and the communities they live in. Trian is bad for America. But then again Bryan and his sycophants are also bad for Solventum.

This company is on a steady descent to oblivion no matter who is steering the ship.

The guy complaining about people here to criticize hairplugs and supporting the leadership is the same guy who cheered "Saint" Peter gibbons townhalls. You are a worthless clown who isn't getting any no---e from a loved one. You can exit stage left.

I got laid today as a retiree and enjoyed going to the movies with the misses. You can go off and do what you like but no one cares what you think. Jag off dude!

@23q really great advice.... Get out of this sinking ship and do what? Every corporation is laying people off. The people who sit and constantly post on this forum about the same stupid s*** about hair plugs, yachts, good old days at 3M, and glad they got out when they did need to find more hobbies. You offer no relevant or useful information, go off and enjoy your retirement.

Just enjoying my retirement from 3m and I feel bad reading these threads…. It’s like sheep awaiting their sla-ghter… Get out of that sinking ship and be happy….
They don’t care about you or your family trust me….

@1td a colleague on my team who got laid off in November got 2 weeks per year plus 6 months of cobra but not the extra $10,000.

@1sv I'm pretty positive I read during the first big holiday layoff in 2024 that employees were being given 2 weeks per year up to 26 weeks and an additional $10,000 lump sum. I could be wrong though. The termination SharePoint page is showing capped at 24 months of base salary, I'm guessing that only applies to the top executives of course.

@1da Oof, I feel like it has not been 2 weeks per year for a long time, since the 3M days. Search Sharepoint for a page titled "Termination" under the Career & Development group (that's ironic, no?). Sounds like 24 weeks max.

@1dq I'd assume so as every other corporation is laying people off. I don't know for sure obviously, and I completely agree, slash some of the C suite salaries before laying off us pawns. I'm just curious if the severance packages have been cut since the previous larger layoffs. It is very interesting that the "Executive" severance plan was boosted shortly after the new CEO took over, how is that fair?

@1da are any in the works? Why not let all the highly paid VPs and above go first?

Does anyone have information regarding the latest severance packages in these recent layoffs? Last I remember it was something like two weeks per year of service with a max of 26 weeks. Is this accurate or have they lowered this? Trying to prepare, thank you.

@19g Correct - meant early 2027. Bryan will do ANYTHING to save his hide and those of his incestuous gang of misfits like Heather. This buys him time with Peltz to last another year until Peltz, who turns 84 this year, kicks him out for no returns and no dividends. If Peltz isn't around in 2028, then his son-in-law will put Bryan to retirement. Bryan would also have time for his hand-picked board to give him a golden parachute as big as Bob Nardelli got from Home Depot.

What a frigging mess this once great HCBG has turned into.

@19g They are going to sell it all off like a chop shop!! I’m just enjoying my pension check and watching it burn to the ground….

@18d announce dental spin off in 2025? Do you mean 2027? I think they are keeping it for the cash.

@15h i’ve been saying since day one that the plan was to sell off everything except MSD, which they want o make as attractive to Medtronic as possible. Don’t be shocked when Medtronic acquires what’s left of Solventum in about 3-5 years.

If Peltz is trying to do another one of his infamous "stack the board" hostile takeovers, like he tried with DuPont, then he will likely have to wait until next May. The annual shareholders meeting is next week. At best, Peltz could convince a few large shareholders to vote down Bryan. But it won't be enough.

The likeliest path going forward.

1. Bryan announces a "revision" to The Solventum Way in 4th quarter. Meaningless corporate gibberish.
2. Another Holiday layoff is announced to please Peltz. Expect something akin to 2024, maybe even worse.
3. To appease Peltz (beside the layoffs), Dental will be announced as a candidate for spin or sale in early 2025.
4. Bryan and gang get re-elected in May 2027.
5. Peltz (who's over 80 years old), if around in May 2028 will try to oust Bryan.

GTLA. Glad I'm retired from this holy mess!

@15h definitely incestuous corporate behavior. Amazing what you posted. But true it is. Bryan clearly has a mantra of "scratch my back, I'll scratch yours"

HCBG was clearly the best opportunity for a 3M spin to be a strong independent industry leader. The Board clearly did not do its due diligence in screening this guy. Now the Board is probably stacked with Bryan's cronies, including many who fly the corporate jets to work each Monday and back home Thursday night.

For a certain crony executive, just the food and drink portion of the monthly expense budget could feed the entire families of 3 of 4 of those laid off during Bryans "lumps of coal for Christmas" Holiday layoffs. Destroyer of buffets indeed!

@qm For sure, and it is intriguing that:

• Heather came to Solventum the same month a class action was filed against Baxter, alleging they hid dr-g pump safety issues that tanked the stock when they couldn't keep it under wraps any longer
• Jose Almeida, Bryan's brother in law, was Baxter CEO through Feb 2025
• Jose previously promoted Bryan into executive positions at Covidien (another lawsuit about that)
• of Bryan's reports: Knight (and previously Barry), Spears, Harrington, Ellingson, and McMillan all overlapped him at Zimmer, Medtronic, and/or Covidien.

Maybe also intriguing, just saw this recently:

• Hologic just hired Jose Almeida
• Wayde McMillan is on the board of Hologic

Make of it what you will.

@z6 Bryan needed to publicly tell off Nelson Peltz in 2024 and declare that he was on a GROWTH strategy not a "layoff a lot of people and somehow grow the business" idiocy.

Peltz has a long history of using other people's money (from people who bought into Trians sale pitch of high returns) to but a middling 5 percent of a company and demand Board seats.

So Bryan adhered to the Trian strategy instead in Dec 2024 and laid off thousands. And again a smaller Holiday layoff in 2025.

Sorry. Both Peltz and Bryan can pound sand. There are real leaders who would gladly takeover what's left of 3M HCBG for 5 million and do a better job.

Meanwhile, Bryan and Nelson stay on your Florida yachts from here on out. We will take care of this on our own.

Wow talks of more layoffs and swellings of divisions ….. No wonder this is a top rated co to work for….. Please what a joke!!!
Go ahead hair plugs announce more layoffs… now back to my round of golf….

Remember: it was a similar letter and warning from Trian that lead to that first big RIF in December 2024.

@r5 I expect dental will be sold off in the next year or so. They aren't even trying to hide it. Dental recently had some quiet layoffs and restructuring where they pulled in employees from medsurg that were supporting dental. Making it easier to sell Dental off as a whole.

@vm I love watching Solventum implode!!!
This company is a joke and sinking fast!!! Hairplugs and the destroyer of buffets are so shallow they would drown in a puddle!!!
I quiet quit after the round of layoffs and just act like I care…
These people are clowns but I am getting the last laugh I’m just cashing checks and playing a lot of golf….

@vh check out the history of Chemtura, which was a merger between two smaller chemical companies. Peltz used OTHER PEOPLE'S MONEY (from those who "invested" their life savings in Trian) to "revolutionize" Chemtura.

Peltz got enough votes to force put the CEO (giving him a ritzy golden parachute) and get this...appointed his SON IN LAW as CEO, a guy with no knowledge of chemical industry.

Then guess what happened? Chemtura had to file for bankruptcy reorganization.

So if you bet on Trian and Nelson Peltz. House wins every time (that is, Peltz). Employees and shareholders lose.

@vc Can you share a list of companies they've steered in the past?

Not good for anyone - that is likely true. Although, it’s still a bit validating to hear the pay and exec hiring issues being called out when the message to the plebes is work harder, do more, do the job of 3 people, etc.

Trian engagement is not a positive for anyone. Their historical playbook is a graveyard of corporations and layoffs in the tens of thousands for the sole benefit of boosting their portfolios.

@v3 no doubt these (Trian) guys know what they are doing. Will be interesting to see what happens. Last time it was blown off because we had a great plan. Right? I’m sure they’ll double down and try to avoid the gravy train ending, When was the last time any of us heard anything about our strategies and goals?

@qb
In the slide deck at slides 9 and 10, aren't these effectively making criminal or fraud complaints against the management involved?
Is there a case for class action for shareholders?

Did anyone else think it was strange that Trian acts like we sold off all
Off P&F but in fact, we still have drinking water? Stil owning that would seem like it would have been mentioned as a negative but maybe it’s inconsequential and so wasn’t mentioned? And what do people think about selling Dental? How long would that actually take to accomplish, if we are forced to do it?

@qb I wonder how much was spent to "recruit" his buddies for senior positions, like Heather. Plus their pay and perks must be worth another 20 million annually for 4 or 5 of them.

Now we know why Bryan wanted to treat people like "adults" and not mandate RTO like Bill Brown did at 3M. Must be nice catching another sunset tonight from a Florida yacht and making even 20 million if he really did take a "pay cut"

Saw the letter as well. I was trying to wrap my head around what Bryan got paid in 2025. The 2024 $40M was all over the news and is easy to find. Haven't found anything like that for 2025, and the letter prompted me to look since they cite $80B in two years.

I don't think they are talking 2023 (pre-spin, paid by 3M) and 2024, as that's not $40M x 2:
https://www.medicaldesignandoutsourcing.com/solventum-paid-ceo-bryan-hanson-40m-3m-spinoff-first-year/

Found the 2025 SEC filing here:
https://www.sec.gov/ix?doc=/Archives/edgar/data/1964738/000196473826000017/solv-20260327.htm

• Compensation table says "The following table shows the compensation earned or received during 2025 by each of the NEOs (Named Executive Officers)" and lists $20.1M (a ~50% pay cut vs. 2024, in line with all the other c-suite folks, believe it or not)

• But in a pay vs. performance table a little lower, it says "Compensation actually paid to PEO" (Principle Executive Officer = CEO), and lists $40M.

Either way, it's still bonkers that the CEO of an $8M flat, non-growing org is making the same as a $25B flat, non-growing org.

The real question here is how long will it take Peltz to takeover control of the Board and oust Bryan. That process could take a few years. Bryan meanwhile will continue his Florida yacht living and fly in on a ritzy jet every Monday morning and fly home Thursday nights. What a life for 40 million

Retired at the beginning of spin off and collecting my pension and watching it burn to the ground!! Looks like I will make some popcorn and enjoy the show… I knew Hanson was faker than his hair….

@kc 3M sold all of their Solventum stock last year.

Why doesn’t 3M say or do anything? They still own 19.9%. You’d think they would care.

It's validating to see Trian calling out the ridiculous executive compensation, at a time when people are getting laid off and the company is worth $13B less than before. But how will the company respond? More layoffs, tighter budgets, selling off HIS or Dental? That seems to be the CEO's play book.

This is most validating thing I’ve seen or heard for months. The gaslighting on how we are building a great company has been too much to bear. No one is buying it.

Their letter was really telling. I am a former senior executive who retired at 56 because 3M leadership was bad. I had hopes for Solventum but wow it sounds like a complete disaster. The leadership sounds so lazy! They don't even live in the HQ locations.