I hope they do because I am one of the laid off people who is one of the top producers on my team. The people who are left have been sending me their résumé, asking me to look at it. I have my own cr-p to worry about, but the people who weren’t laid off, they know what is ahead. More product, delays, frustrating processes to get answers about why those delays are happening, and distributors there aren’t answers. And now field reps get to double their territory, while simultaneously being told, they need to keep travel costs and hotel rooms to a minimum. Also, you can’t even take your customer or distributor for a cup of coffee at McDonald’s. Wall Street, if you’re reading this, or board members, just know it is about to be mutiny on the SS 3M.
7 replies (most recent on top)
Burnt toast,
Sorry for the job loss. But you are just a number here and the number of cuts under Mike is going to be over 20,000 when said and done.
3M is a poorly managed company which means it reacts in haste and, therefore, has no plans for what happens afterwards. Hence, the meetings in Maplewood are another sign of dystopia. Like Mongo says in Blazing Saddles, we are just pawns in the game of life at 3M.
You missed a great era of 3M in the 80s and even 90s. If you would like a dart board to throw at during frustrating moments, simple google a photo of James McNerney and try to hit the bullseye. He is the ja----s who lost the power struggle to replace Jack Welch at GE and then was paid millions in 2000 to inflict GE culture and ways on a proud and successful company that was an icon for almost 100 years.
Good luck!
This is because they are listening to unqualified Pete and Monish, neither will have a job after 3M that is why they want to break up. Neither has any business being in charge of this business group, manufacturing, or finance let alone leading any organization of sizeable structure. These two are just trying to parse out what is best for themselves, and how much money they can line their own pockets with going forward. Magic Mike is a bystander and clueless how much damage is actially being done. They really are poor leaders.
I was an external hire who was at 3M for three years. Rated a high performer / hi-po for two of those three years, and even received an award for my work. I was shown the door. What’s the point of having a ranking and rating system where you claim to want to recruit and retain top talent and you cut them? HR and my functional leader were unable to adequately tell me why I was being let go. You think at minimum, they would take that top talent and move them to other places as they’re restructuring. But here’s the thing… None of those conversations are actually taking place at the leadership level on restructure and how work will move forward. I have a bunch of Director level colleagues who have been on site at Maplewood this week trying to figure out how to divide the work… That should’ve already been thought out at the leadership level before making the hasty cuts.
My understanding from some of my senior colleagues in the business is SVPs and VPs are directing cuts without thinking about the remaining org structure or how work will be divvied up or reprioritized. All convos are focused on financial viability and cost efficiencies without any thought to how work will be done.
Thank goodness I have a strong network and already have a verbal job offer. Funny how other companies can see top talent, and 3M could give a sh-t about retaining them. There is no amount of money,benefit or job title that 3M could offer me to ever want to come back and work for them again.
I'm retired now but did have a neighbor who once worked in public affairs for the company.
He told me that YES the company does monitor all message boards, for many reasons (threats, etc.) But also as a "measure" of employee satisfaction (or lack thereof) toward company leadership.
The company pays third parties who do this kind of work for other employers as well. They summarize trends (number of posts, etc.) As well as the general disposition in the comments.
It's highly likely someone is summarizing employee opinions and providing the board with an overview and perhaps even a few suggestions to quell any "mutiny" or outrage. You can be sure Mike and a few others get the same report and then tell the board how off kilter the comments are and that YES the leaders are doing a great job and the employees just can't see it because they want the old generous pre-GE 3M to come back.
I remember some years ago after another rash of downsizings (mcnerney era) where the employee survey scores were terrible. Instead of saying, we hear you and will be making changes to make things better, some schmucks from HR put together a road show to explain why we were wrong and how great things really are. I'd expect nothing less from Mike.
The board is definitely not reading here
The board's inaction is really bizarre. MR would have been shown the door several years ago at any other company.
Another 8500 heads cut this year.
The stock has dropped from $126 at the start of 2023 to $102 today. The employees have suffered enough and it is time for the 14th floor to feel the pain. Mike and Monish are a disaster and are sinking the once mighty 3M ship.
Where is the board? Where the the major investors demanding change?