Thread regarding 3M layoffs

They will cut Dividends, and what's left of pension plans will go away, look for reduced roof tops, MR didn't say it but in short if your not a Hub, your marking time. Just my Crystal Ball.

Just check what happened to GE in the past decade. Same will happen to 3M. They will split up business. Sell Assets. They will get lean. Natural phenomenon in a new world order for Conglomerates.

Wall Street and the cabal of activist investors (Peltz, etc.) Have hated conglomerates for years. Somehow, 3M avoided these activists while they went for breakups of other companies unless the BS line "unlock shareholder value"

What worked well for years at 3M got off track earlier this century, but the impact took a combination of years of dwindling innovation and horrifically lousy management. Innovation took a huge hit when Mcnerney grounded a bunch of the PhD Chemists and engineers with MBB "diplomas" rather than kept on inventing the next thinsulate and sticky notes. Buckley tried to reverse the trend but the board wouldn't ante up the funding. Inge simply marked time and borrowed billions to goose the shares to 259, which kept away activists. Now the M&M boys can ride out the plunge over the falls because of the litigation concerns.

Varys is right about that technology plus a slew of others that were sold to raise money to offset lousy organic growth.

3M is definitely going to be broken into at least 5 or more pieces, with stranded costs (10k plus more later employees) slashed and slashed.

The real question for many of us: how will the pensions be managed. Stick them into an entity that can't pay the bills and make be sacrificed to the trial lawyers?

You can high five your "favorite" GE reject for bringing this innovative way of thinking to once was a towering giant.

You have to realize at this point that there is no plan at all to make up for lost revenue.

The plan has been to cut out 3M into various pieces and divest it. Food Safety and HC spinoff is just the start. Next will be CBG, followed by others.

In the next 5 to 10 years, maybe even sooner, there will be no old school diversified industrial conglomerate 3M. Only spinoffs, diverstutes, and other such entities that will supposedly unlock shareholder value.

That is the high level plan, lads and lasses whether you like it or not.

Short answer: 3M won't make it up for a long time, if ever.

Longer answer:

Some of those business spins were really, really d-mb.

The ceramic armor and gas detection businesses in particular were particularly stupid. Those were both profitable, high-spec businesses in growing markets where customers would pay a lot extra money for better technology and both technically intermeshed well with other parts of 3M. They were practically the definition of the 3M ideal business.