Thread regarding 3M layoffs

Anybody who is not looking for a Job seriously now ...

is a fool.

Even if you have survived this round of cuts, it will be hard to survive the next rounds coming later this year and for surely in 2024, 2025, 2026...

If you are shocked that 3M has announced mass layoffs twice this year already, by April 2023, get ready for more shock and trauma moving forward.

Once spinco is formally separated, remainco will be left with approximately 25 to 30 percent less revenue and 30 to 33 percent less profits. Plus the lawsuits, which seem to be growing in liability with each passing month still remains unresolved.

Since upper management has zero clue about how to grow any big sized business, let alone 3M as a whole, you can bet your ar-e that more substantial cuts are a surety. Only question is how severe and timing.

Of course Humpty Dumpty M Vale will take the podium and say that they should have been more decisive, more deliberate and more strategic even earlier, just like he said in SIBG town hall Apr 2023! More cuts should have been done earlier....will be the proclamation. Instead of 8500 in 2023 we should have done 15000 plus....you get the idea!

Get ready for multiple (3x or more) layoff announcements from 2024 onwards! You heard it here first.

Cheers and hope you are enjoying your JD this weekend.

Legal mari--ana in MN could not have come at a better time.

So long..

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| 3312 views | | 12 replies (last May 1, 2023) | Reply
Post ID: @OP+1moiTwPt

12 replies (most recent on top)

i have two years left and i think i will keep doing my best without recognition and maybe still see my life fly by , I work hard and love when people notice my work is good , this drives me , but it goes unnoticed , alas this is something I have to take as it is life as well, the world has turned into a crazy show of showing a false front for each individual,

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Post ID: @1pos+1moiTwPt

The writing is already on the wall in big red letters, it has been the a while. Be prepared, resume, network.

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Post ID: @1rss+1moiTwPt

Heard many of the PFAS customers were unhappy with 3M pulling out business such a sudden. You can bet the sales decline is going to be accelerated as customer jump ship. I know Exxon is one of them.

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Post ID: @1tuc+1moiTwPt

Don’t forget the lost revenue from PFAS as well. The Titanic is now split in half. Grab a life boat before they are fillec.

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Post ID: @1djl+1moiTwPt

Good Luck 3M (Mike, Michael & Monish)

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Post ID: @mer+1moiTwPt

Let’s strategerize here. I mean it makes sense to hang around to try to get the severance, right? Would suck to jump to a new job when maybe you could have gotten a couple months of salary and a free summer for cabin season. I’d much rather be funemployed and on the water for a few weeks.

If you can’t tell, I have no kids, low expenses, stocked e-fund. There have been 3M layoffs every year that I’ve ever worked here. Would have to be stupid to not be perpetually prepared for it.

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Post ID: @rtd+1moiTwPt

Many are just hanging on to suck a few more paychecks before the ax falls. Others are hoping to actually do some good.

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Post ID: @zgl+1moiTwPt

Agree. Anyone still at 3M should have their resume updated and be actively applying and interviewing elsewhere. The worst that happens if you do this is that you will be prepared and polished at interviewing if you are the next one called up to the guillotine. You should also have a 3-6 month emergency fund built up if you don't already.

Keep your head buried in the sand at your own peril.

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Post ID: @fqy+1moiTwPt

Like somebody said before, 3M is Kodak. Tons of patents that eventually led to plaques on the wall but no longer generated sales and profits.

We can all "James McNerney" of GE infamy who brought in sick sigma, forced ranking, and obsession of meeting quarterly earnings estimates to what led to the demise of this once great company.

Mack the kn--e if drinking 200 dollar bottles of wine on his yacht this afternoon while thousands of loyal 3Mers get kicked to the curb evert quarter.

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Post ID: @syo+1moiTwPt

Everyone in MSDS still believes they are safe now. Once spin happens more cuts will be coming. Reps got 8% to ensure we stay until the spin happens.

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Post ID: @ebc+1moiTwPt

I thought SAP and Advance 3M were the answer??? These guys are willing to try anything but invest back in the company. Innovation comes at a cost but to them it’s a buzz word for presentations.

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Post ID: @xtn+1moiTwPt

Doesn't take a genius to figure it out but many people I know are still in denial and hoping for the best when there is nothing positive to look forward to.

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Post ID: @cqq+1moiTwPt

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