Someone mentioned layoffs in Boston, but there has been no all clear from leadership. Does this mean more Surgical Robotics layoffs are coming in the next few days or weeks?
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Hugo sales and financials please. Let’s see how profitable this investment is since we all suffered tremendously supporting this debacle.
@hw I agree. But we have incompetent leadership without vision or wherewithal.
@g7 this loan is rationale for GM termination. How does the world’s largest medical device manufacturer missed boat on robotics…..
I heard there will be another round of RIF around or after summer
I’m a non-Boston RST person impacted by the RIF. I haven’t heard of others so I’m assuming it’s small numbers looking for cost savings. I don’t think they will spin off robotics given leadership sees robotics and data as the future. Although I felt secure in my job so who knows what the future will bring.
Hugo is like blackberry phones
Hugo is dead man walking. Might have been competitive in 2021. Now it's too big and 2 generations behind.
Some of the more focused robots can exist along Intuitive, but Hugo can't get in a price war with them, because it costs too much to make
I saw a couple of former colleagues from Robotics post on LinkedIn that they had been let go and were looking for work. They were not from the Boston office.
Sell off robotics?? robotics and AI are the future. You have to wonder what the board is thinking when the world’s largest dedicated med device company blows that opportunity. The cost of these RIF are expensive and affect profitability.y it difficult to focus on the work that needs to be done when you’re worried about job security and how to support yourself and oryour loved ones. It has a domino effect that hurts everyone. (other than the CEO who got an insane 16 to 20% raise and millions in stock options while most employees received 2%, no stock and no LTIs) It’s hard to get good work out of even the best employees don’t feel valued or job security. The RIF risk is even higher if you’re legacy MDT and not part of the ever growing GE network within MDT year after year. Maybe there’s a bright side with lots of talent making off with a nice severance from Medtronic and soon after picked up by a smaller med device/health sciences company that has a clear vision, strategy and goals for how to achieve that vision. Most states are right to work states making it very difficult to enforce a multi year noncompete after a person has been let go without cause. MDT may threaten, but don’t let that scare you. Litigation is expensive, companies like to settle. The publicity is horrible for MDT image. (get a free consultation with an attorney, if necessary, to know your rights and laws in your state). If you feel like they’re preventing you from working jobs best suited for your skill set, respectfully push back. It is unlikely you would ever be able to take MDT proprietary info with you to show as examples of your work product when interviewing). GE crew has built a very different Medtronic and erased so many of the fundamental values held by Earl Bakken, been erased. It’s likely to get worse before it gets better through big MDT leadership change or new opportunities at a different company. Stay strong and know there are brighter days ahead with a company with a clear strategy and alignment on goals how to execute it. For those not subject to RIF, I wish the best for you as well. Execs will newer understand how hard it is for the employees who remain and have to pick up the workload of their friends and colleagues subject to RIF. Just because they cut headcount does, the volume of work rarely changes. Keep your head up. It’s highly likely there’s nothing you did or didn’t do that made you subject toRIF
@b6 exactly. Nobody’s d-mb enough to buy that boat anchor. They’ll spin it off and then watch the bottom fall out because they don’t have a huge pile of cash to burn through.
VP regulatory resigning was announced yesterday.
For those that remember the LCOV take over by MDT, this round of RIFs is nothing compared to LCOV preparing to sell. Robotics will likely just die on it own merits.
@ar there’s no chance it’s being sold.
Why do we think that robotics will be sold? Assuming this is true, what companies would be likely buyers?
Welcome to the club, None has hear a peep about a "all clear"
I doubt it will get any better.
What’s the difference anymore
Things will get way worse before they get better, just look at the stock price
At this rate the company will split into 3 pieces by December
No, that would look bad for the pending sale. Robotics RIF will happen AFTER the sale is announced.
Nothing to see here potential buyers, Robotics is just going to print you money.