Thread regarding Medtronic Inc. layoffs

Geoff's publicly available contract

https://www.sec.gov/Archives/edgar/data/1613103/000161310319000056/officeofchairmanandchi.htm

hey Mr. Fake News id--t. Here's Geoff contract with Medtronic...as you will see, MIP is an insanely small amount for these as*holes. They dont give a damn if they don't receive MIP...as long as their stock and options remain intact.

Even in this document (which is what he started on...his current comp is much higher), the MIP is only 100% of base which was 1.1M.

At most his MIP would give him an extra 1.1M. Geoff made 17M in 2022...by what magic did that happen considering Medtronic hasn't paid out full MIP since Covidien acquisition. Dum*a-s

Fake news

MIP payout for all would not have happened if the board did not decide to remove/forgive the minimum earning per share number. ExCom was excluded from this and got zero MIP last year

@1max+1p3KFph4, yes the gate is gone, but I'm pretty sure it says missing targets for eps or other metrics can still result in a zero payout. I'm not sure if this calculation would be different for executives, or if they get different bonuses.

Go to mip.medtronic.com and see that the EPS gate has been removed for everyone, not just Sr. Execs.

This change was fairly well communicated in multiple forums.

Honestly, after Geoffrey Giraffe said in that town hall it was the boards opinion that ‘you don’t have an *.edu at the end of your e-mail address, you get paid based on company performance’ rant this was a surprising change.

Another Geoff brilliant idea. He is so big on accountabiity for everyone but himself.

Ex comm would love it if Medtronic employees unionized, and went on strike :)

Don't forget the fact that MIP is now based on your performance rating. Somehow I feel that the new rating scheme will find a way to not pay 100% of the MIP.

Wait for the impact of he new 1-5 grading scale to be released. Let's just say it's not to pay out more money overall.

Senior executives are only here for their own personal selfish reason. They don't care about Medtronic's mission and innovation.

What do we need to do? All go on a strike?

Rules for thee, not for me!