This leadership is terrible. Do they even care about the growth of this company?
I don't think they are dedicated to it at all.
It is precisely for this reason that I don't feel like staying here anymore because it's hard to imagine a bright future here.
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I’ve worked in a lot of place and 3M takes the cake when it comes to keeping the most productive and innovative people in their roles while promoting complete incompetence. The higher the JG, the less intelligent the person. These are facts.
3M use to maintain product profiles to help the higher cost products move forward and profit.We have never been a Burger King have it your way company. We have so many SKU’s for products now and just the cost for getting them into our systems is $$$. We as a company use to say we will sell you the product at xx$.3M has never been a custom product shop but over the last 10+ years allow customers to buy whatever they want in size. We eat yield lost to do this just to sale product thing they will buy more. We have thousands of SKU that lose money daily let’s at least fix that because it is not that hard.
In general (but not without exception), most current 3M business leaders at VP level (old Director title) or above have extremely limited knowledge of the company's products, markets, or industry applications. For this reason, the senior leadership has no idea on how to grow sales and gain market share. Example: Current business VP of one of the largest Divisions had zero sales, marketing, industry or business management experience when they were appointed to this position. How does this make sense? (it doesn't)
"Cutting with confidence." Heh! That should be the new company tagline.
Wow wow…. Innovative scissors…..hahaha
No growth? Winds of change might be in the air. You may not have heard the big news, but 3M just announced the launch of innovative scissors.
https://finance.yahoo.com/news/innovative-scotch-unboxing-scissors-3m-052000428.html
That’s some Class 5 stuff there. I sense a lifetime Golden Step award. Someone needs a Carleton for this. Winning.
The are NO GROWTH product platforms. The company is on its way to be split off and sold off.
What would the ramifications be if/when RemainCo declares bankruptcy?
Our 3M leaders have been informed not to communicate to their subordinates. 3M has significant liabilities which include impending judgments they cannot afford to pay.. Assuming our vendors will soon require cash on delivery. A couple questions that can indicate corporate intentions: Do you feel valued? Is the company distracted from making sound business decisions by focusing on investor related social engineering projects? Sad to witness this societal decline while 3M embraces it. We’ll time to walk the dog, love WYW!
At this point to be brutally honest, I think Mike Roman has come to accept he will be 3M's last CEO. They aren't even really trying to save RemainCo anymore.
I'm updating my prior estimates:
- I now estimate an 80% (4 in 5) chance of RemainCo declaring bankruptcy within 6 months of the HC spinoff date.
- If HC spinoff is cancelled or delayed to at least 2026, I remain around 60% chance of a parent 3M bankruptcy.
The big two changes that are driving my update:
- PFAS lawsuits are gaining a lot of momentum in the last few months and are focusing on 3M far more than the other players in the industry.
- The recent legal rulings that will prevent Aearo from using bankruptcy to shield 3M from liability. (I agree with the rulings BTW)