I get a bit nostalgic when I remember all the great people I used to work with. They have long left and moved to other companies.
I can't recall exactly when it all went downhill here!? It is only clear that the company's growth has not been the focus of those in leadership positions for a long time.
Find out in "The Man Who Broke Capitalism" by David Gelles. See how the GE playbook became the downward spiral of 3M.
3M Forward baby!
The autodrive comment is completely accurate. Too many directors and senior managers who do not provide enough value for how they are compensated. 3M is slap-a-s city and if you don’t agree, fine but look at the company’s performance and tell me I am wrong.
Every "nostalgic" 3M'er is probably the main problem of what 3M is trying to fix today. Sooo many people were on auto drive for far too long. Not paying any respect to data quality, not paying any respect for optimization.
just like GE HEALTHCARE
I am sure Legal spent hundreds of thousands of dollars on consultants and outside counsel to come up with the name 3M Healthcare.
It all started when the successful producers of the 80’s and 90’s were over promoted to their current leadership roles. The Peter Principle in action. Add a high number of international transfers with zero personality to a place that operates like a small town and there you have it.
FYI, rumor has it that SpinCo will be. 3M Healthcare
Reliable source. Doesn’t say a lot for innovation, does it?
Purchasing the wound care company KCI took everything good about healthcare division and up ended it. So many dedicated, successful, talented 3M people got let go and former KCI people took over and now are in management and running the health care show. Actually healthcare division is now wound care.
Unfortunately I’m awaiting news that the former 3M healthcare product lines will be sold off and SpinCo will only be wound care.
Sad state of affairs coming for SpinCo
As a more recent hire with not quite 10 years experience, 2019 was when the downfall seemed to start. “Save” money by closing plants for multiple weeks only to put yourself in backorder, run OT and pi-s everyone off with forced vacation/no pay. Good work.
Started with McNerney and Six Sigma - margin protection became more important than growth. Conflicting metrics (e.g., service vs inventory) everything internally focused. No focus on customer at all. Then Advance 3M was nail in coffin. Anyone associated with A3M should be fired. Also, run a portfolio but you can’t travel. Embarrassing.