Peter Gibbons is listening to this Outsource group named the Kearny Group on making cuts to manufacturing plants. He honestly has no idea how bad he is destroying value and capacity. Mike Roman isn't leading sh-t and would not know what leadership is without hiring some consultants on how to think or reading a book. This CEO has wasted more damn money on consultants and conferences, and useless golf tournaments than all leadership teams combined. I understand that 2023 is going to be a tough year from Financials perspective but this is terribly short sighted to start gutting the plants. Why Gut manufacturing plants when you have three times as many managers than you need with Spinco and 3M Center, honestly and layers upon layers of fat and overhead. Honestly they would not know how to measure KPI, productivity from the leadership team if a frozen fish hit them up side the head. You cannot outsource all work or move it all to Costa Rica even if you save a few pennies. At some point 3M is still a material science company that needs to supply its own products. If these bozos would actually invest in some real equipment and automation, these cuts would make sense but we dulling apart sh-t everywhere you look, and beyond dated production lines They will not even buy automated slitters, and rely on outsource company's and pay through the nose for all the die cutting, and slitting needs. There is no vision with this. Leadership never looks in the mirror.
Originally posted by @pew+1kJOPTc2.