Thread regarding 3M layoffs

Did anyone read the earning call transcript and analyst questions?

Just when I thought the M&M boys couldn't outdumb D-mb And D-mber, the call was hilariously if you want to listen to the sound of deer in the headlights.

Asked about why this restructuring is different, Mike and monish mention "priorities" and "business growth"

Asked why R&D hasnt delivered results in the recent decade, priorities and focus on business growth comes out again.

Asked about PFAS/PFOS and whether it is part of the reason for the cuts, give a vague answer and then say some team is looking into it. Check back later they say.

OMG! They remind me of Bill and Ted excellent adventures if Georgr Carlin and the phone booth hadn't come along to save them from getting Fs.

Is this just a bad dream and we wake up with Desi Desimone's son or daughter running a happy and profitable 3M?

by No more GE hires ever
| 1992 views | | 7 replies (last May 4, 2023) | Reply
Post ID: @OP+1mrlPZO5
Comment! It's anonymous!

7 replies (most recent on top)

Do you think the Shriners regret helping Teresa out when she was a kid? If they knew that she would take the financial help and support of such an organization and then ultimately grow up to be the monster she is, would they have rejected her? Sad to see someone who reaped the benefits when she needed help be so ruthless in stripping others of their financial support.

by Anonymous
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Post ID: @1ald+1mrlPZO5

Sounds like Monesh is being totally transparent. Financemanagerinshock saw right thru him. LOL

by Notsurprisedbytheacting
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Post ID: @hsa+1mrlPZO5

I'm surprised it's taken Wall Street this long to catch on. Aren't those guys supposed to be smart?

by Anonymous
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Post ID: @njh+1mrlPZO5

LOL who his “Teresa II” ?

https://www.thelayoff.com/post/@ixf+1mrlPZO5

by Anonymous
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Post ID: @mii+1mrlPZO5

On continuation of the utterly disgraceful non-apology tour, monanana potahaha’s townhall was a master class of how to skillfully lie and pretend to care. He was sad, and faking empathy. He was amazed at everything 3M does!! Then came chimney with a few statements that could mean just about anything you would want. Followed by teresa I who said something meaningless and ending with teresa II giving her smo/pmo blah blah. All that was missing was the circus tent and clown costumes.

by Financemanagerinshock
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Post ID: @ixf+1mrlPZO5

There will be another mass layoff after Spin Co happens. Remember your manager already have your name ready for that. Keep looking for jobs day in day out. You are not going to survive because of your 'hard work'.

by Anonymous
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Post ID: @fci+1mrlPZO5

Years ago, I had a site director who was clearly on his way out to retirement and would be replaced by some 10-15 years younger.

Near the end of his time, his town halls bordered on meaningless, vague, and sometimes contradictory information about the direction of the site (it was losing jobs and some businesses but still had a decent core of workers to agenda a good chunk of your career there).

He had not been this way a few years earlier when he first arrived. It was clear he knew the end was near and no reason to get into any deep discussions about something he knew was of no importance to him, given his soon departure.

Mike has the same "glow" about him as this director did. His time is nearing the end so he could really care less if he's contradictory or vague. Monish, on the other hand, is either parroting mike like he did on the call or being very cautious to avoid setting himself up for failure later.

All so sad as some 95,000 employees, many of whom hired in 30 plus years ago under a benevolent 3M, await that 15 minute invite from the boss and an otherwise beautiful May morning.

by Anonymous
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Post ID: @ips+1mrlPZO5

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