We are 2 weeks out from the Q1 report and many here are expecting a layoff announcement to come with it. Just wondering what is the consensus on what the number will be.
Please share your guess and reasoning
Hearing 10K-15K by end of the month….
I'm hearing between 10,000 and 15,000 world wide....if the Rumor Mill is correct.
Sad state of affairs that we gave another Layoff likely. Layoffs every year will be the new normal I guess.
Lol @ IT comment. Spent an hour enunciating letters to reset a password because I couldn't understand a word. If this company was smart they'd make all their parts in the USA to fix this expensive supply chain issue they keep using as an excuse for failure.
Anyone who’s tried to get help from IT or the Costa Rica accountants knows they’re worthless and incapable of solving any semi-novel problem. Not saying it’ll stop someone from offshoring anyway but it’s not the same level of competence.
I wouldn't call offshoring the positions they've already offshored a wild success story, would you? The implication being made in the first reply was that the same productivity can be achieved by moving skilled labor offshore, which I think is absurd if this person actually believes that.
This is not to say the company won't do it, but rather that it is extremely short-sited and will absolutely not result in the same level of productivity (which includes quality of work, not just quantity).
I wouldn't put it past any company to think that anybody's job could be offshored with the same degree of success, but whether it's true or not is a different story.
To the poster calling people mo--ns about WFH. You do realize company is in cash crunch do to litigation, and preserving best assets and cash for SPINCO? You do also realize this company has already started to offshore many skilled jobs in TTS for years, and has started to centralize even more jobs to Costa Rica, even Supply chain and Finance. Doesn't matter if you are, or think you are highly skilled, if 3M Company can find equivalent overseas or offshore it, they will do it. Medtronic and Ecolab are doing this moving remote jobs. All the Insurance and tax company's are doing this what makes you think 3M is so unique that they will not try to source equivalent cheaper labor? 3M has already started the process. They will announce a smaller number, then start towards D and E. 1/3 of business or more is splitting off. They have not paid all these consultants huge amounts of money that have suggested they break company up for nothing.
Are some you really that mo--nic to think that if a highly skilled worker can be successful WFH, that means their job can be offshored and simply replaced by any unskilled worker? You do understand that the highly skilled worker does the exact same thing they would do while in the office, minus walking to conference rooms for meetings, right?
It's definitely not B.
6500
Whatever countries have been marked as export and exit. So E.
My guess is B for Q2.
If full year 2023, somewhere around D or E.
Sadly A-B-C-D-E in the order
7500 is the answer
E, not driven by data, but because our leadership are a bunch of followers and it’s what the big tech companies are doing.
I agree with c, with the total cuts by year end being E.
A single 7-10k cut would panic the investors, and the remaining workers.
The pfas exit alone will provide an avenue for a few hundered/thousand job cuts over the next year without anouncing it, but while we are still making it (and it's making a ton of $) many of those people will stick around till 2024-25 before being cut (or just slowly exit on thier own)
In the end the mangment will opt for a death by a thousand cuts over a simple clean beheading. So I am guessing about 4-5k cuts announced on the 25th.
7,500
2500 Support & EO
5,000 in the regions. Shifting to distributor model and exiting countries
next round will be BG sales/mkt as there will not be staff to support, resulting in further “portfolio rationalization”
Continued blah-blah is the more likely scenario. The reality is probabaly the 10,000+ but announcing that would spook the market and they don't care about being open and honest with the people at 3M so they'll just fudge it
I will be optimistic and guess B. They will focus on one group/area at a time. My guess will be that over the year they will eliminate 10k jobs, just not all at once.
Easily E. Now that they Corporate, COC HR, TTS, know many corporate remote only jobs can be done remotely, in Costa Rica, Phillipines, China, India, this is a no brainer. 3M will jump at the chance for the cost savings. All WYW proved is that if people in the US can do jobs remotely, then why continue to pay higher wages and benefits in the US for less productivity. They will not eliminate the jobs permanately, just offshore them for much cheaper labor or contract workers. Expect thousands of CW after the layoff. People at 3M are exprndable just ask Monish, he is chomping at the bit for the cost savings. It's not just 3M, soon everyone will be doing this.
Answer = E 10,000 white collar jobs
work your way was an experiment.
If productivity is essentially the same as pre-pandemic levels after WYW, why not eliminate these employees and offshore to India and China for 70% less cost?