Very concerned about constant cost cuts and how, no matter how much we cut, it’s not enough. We don’t pay suppliers on time, which I thought was due to our incompetence but now believe MDT is deliberately trying to hold onto cash; we don’t pay taxes to governments we owe, even after losing in court. My job has been an enterprise level role for 3 years. Now I’m hearing instead of a pan-MDT strategy, I have to make strategies per OU. Ridiculous. There is no consistency from day to day. The pace constantly gets more manic. It feels like an implosion is imminent. Cannot wait for the coming re-orgs, and pray that the severance checks don’t bounce.
14 replies (most recent on top)
No Future
No Future
Medtronic is outsourcing a lot of white collar jobs. The only jobs left in the US will be the executive positions.
If there is a bad/late payer website created for suppliers to rate customers, we will be a top offender.
Split & Sell Medtronic in pieces - that’s the future.
Here we go with grandpas complaining about "woke." JFC the real issue is our leadership are clueless. It has nothing to do with "woke" or "DEI"
Not paying vendors on time is not new. Before I left in 2020, Net 90 terms seemed to be just a suggestion to AP, and purchases I worked on frequently got paid at 120 or later.
So what happened to the push that started 6 or 7 years ago to increase cash-on-hand? Is that still being pushed, or has that just quietly been de-emphasized.
Posts are getting deleted, Medtronic Woke police in action.
OG Poster : @OP+1w0CBCu9 - we all can thank Omar Ishrak and his chums for draining this company.
GE is Dead but GE’s failed Leadership lesson aren’t dead and is running rest of the American companies.
MDT Market Cap 1/1/1998: $23.98B ($46.41 today, adj for inflation)
Acquisition valuations since 1998: $90B (adj for inflation).
Total: $136.41B
Market Cap 12/16/24: $105.8B
https://simplywall.st/stocks/us/healthcare/nyse-mdt/medtronic/news/the-past-five-years-for-medtronic-nysemdt-investors-has-not
Total Shareholder Return the past 5 years of -17%. lol what a joke.
They have factored it all in as the cost of doing business. No matter who they tick off or who they slow-roll their obligations. I am sure some invoices have longer leash lengths than others. Then they are "surprised" when their suppliers push back. They don't care, as they are just trying to tread water a little while longer. Ugly ending eventually occurs.
Everything is for sale. Medtronic strategic divestures is next in the playbook.
We are using the GE Playbook. Medtronic is currently where GE was at in 2017.
Things aren’t looking great and 2024 is just the beginning. 2025 might be a lot worse
The not paying suppliers things is pretty outrageous. Was on a team that had some lab work done outside. During a technical meeting, the outside contact apologized for bringing this up but said that their invoices hadn't been paid for 6 months!