I am hearing 10-15K layoff number. Anyone in management that can confirm?
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Bump
Breakout the bu11$hit bingo card for the earnings call. "Winning" will be at the center, and "excited" is a freebie. Let the suggestions come in for the other squares. If the bingo card is set up right, there will be thousands yelling bingo in less than 10 minutes.
LMAO people that were nice for 10 years are even argumentative angry individuals now. TTS is not a fun place to be. I feel layoffs in IT coming.
10-15k easily could happen. We have thousands who do nothing. They will likely make poor decisions as always when it comes to layoffs. As long as the diversity score improves that is all they care about.
Im calling bs on the 10-15k number. Way too high.
It will take months if not years to effect this in Europe - they will have multitude of legal and works council hoops to jump through. Redundancies here are still not completed (even yet to announce) from August last year. And the severance cost is way higher too per person.
Yes compliance with WARN requirements apply, but that’s what 45 days unassigned and severance packages are for. I’d expect the announcement of headcount reduction to occur within a few days, the company may take a charge associated with restructuring in Q1, and the staffing reduction will occur by conclusion of Q2.
If the layoff numbers are so big, doesn't 3M have to inform labor officials and implement the WARN act in MN ?
10-15k is a good estimate at this point
If the layoff is big enough they have to make a formal announcement before executing per US labor laws.
Yes
So nothing is happening?
I'm hearing 20%.
This will be hard for people that retire and have to choose between a significantly reduced lump sum payout or trust the long term viability of monthly pension. Personally I do not trust the pension. PBGC does not guarantee 100%.
I am fairly high up and I can tell you the final plan has not been completed yet. There will be cuts, the scope is still TBD
It is not decided yet ,only rumors, but all bad things to those that wait.
Is the assumption the announcement on layoffs will be first heard on the earnings call ?