Thread regarding 3M layoffs

"100x" lol, I guess basic math is a struggle for some. Try 2x. Still outrageous when you take into account that they'll probably be courting that 2x payout.

" If a change of control in the company"

They are covering themselves for when they are acquired or split up/sold off.

Must be sooner rather than later if they are setting up their pay days

There's nobody quite like BB. It's a privilege to be sharing the journey. ❤

Finally the cut have reached the fat old farts.
So they change the rules to suit them and their friends.

Did 3M and SOLV move people over with the plan to cut? Sort of avoids more 3M headlines by using spin as a way to avoid cuts and headlines, then RTO as a way to see how many will quit

Anyone who thinks the rank-and-file employees are a consideration in any decisions being made at 3M or SOLV is sadly mistaken.

The focus for both companies is to extract maximum short-term cash and line the pockets of the C-suite. Company longevity & health is not a concern. Like at all.

Anyone else seeing a trend. The past trickle down method no longer applies. Billions in profit are still reported every quarter and it is only to be shared amongst those at the top as they come up with new ways to reduce any perks you previously enjoyed.

Does that enhanced severance package include all employees, or just the board?

If it is only intended for the management board, what is the reason behind that?

What I'm seeing there is not new (from October) or abnormal.

It provides for an enhanced severance package in the event of a "change in control," i.e., a hostile takeover.

Unless someone buys up a huge portion of the shares of Solventum and makes it a subsidiary, this provision will never come into effect.

I get that you guys feel salty, but unless you understand what you're talking about please just play quietly at the kiddie table.

Disgusting. Guess we know why they let so many people go now. Gotta pay for it somehow.