The management of this company has been reduced to cuts only. What kind of leadership is this? If that's all it takes than almost anyone could manage the company.
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No. They also know to sell, such as land,jets, factory..
Sometime back in the early days of story problems and algebra, we got introduced to math scenarios and formulas such as P = R-C. Or profits equals revenues minus costs. The sad dilemma is that Mike and his predecessors (I give Buckley a pass because I thought he was pretty decent at business other than the aearo acquisition) have been unable to grow top line (organic growth) at a fast enough pace to make up for costs.
That means tiremans comment that the "only fixed cost is depreciation" leads to non stop layoffs (costs).
I can't see an out for this company unless it breaks into 5 or 6 pieces and then finds new leaders from our competitors to grow the pieces that are left.
Shakespeare could have written a tragedy about this company (whither 3M?). Just sad!