3M has not developed a meaningful new product platform in nearly 10 years. Most of the large wins they claim; optical film, cubitron abrasives and their HIS Encompass system were built out of existing components and assets. They company has proven... — read more
Topics regarding layoffs at 3M
So layoff announcements went out this week. Many people will be hitting the road pretty soon. Here is the message that technical folks got in summary : Thanks to your 20 + years of service and loyalty to 3M, now here is the door out. Your... — read more
PFAS and Covid 19 Just google * PFAS and Covid 19* Some new news just coming into light. What are the repercussions for 3M. https://news.bloomberglaw.com/environment-and-energy/insight-pfas-covid-19-and-immune-response-connecting-the-dots
From yahoo finance message board : As a stockholder, tired of hearing this company not meeting expectations. I don’t own much stock but have to imagine if I am tired of it, large investment companies that have significant dollars invested in... — read more
1500 layoffs already announced in early 2020. Do you guys think the big honchos will stop there. What additional steps might be taken ??? 1) more layoffs in subsequent quarters 2) cut to benefits like stopping pension, no more 401 k... — read more
It’s sales for Apr and May are pathetic despite the boom in respirator masks sales Any thoughts if they can close the Q2 Gap to avoid its stock crash?
1500 layoffs were announced much before covid 19 hit. Now more cost cutting will happen since the company is already in deep trouble...no longer a reliable defensive stock like good ol times
Interesting timing of executives selling their own shares of 3M stock. Touting 3M's commitment to providing exceptional value for their customers and premium returns for their shareholders, yet they seem to be putting their own interests first. ... — read more
Better get out while the gettins good. You s—!
but yet they keep transforming and changing the organization structure. Advance 3M. What a joke.
Comment in this thread - it'll be the main thread.
Plant managers are being advised to prepare for 10-25% volume drops across all divisions and to have plans in place to trim production employees at the end of 1st quarter. Corona virus is the scapegoat but this was in play before the outbreak. SAP... — read more
A few choice comments from yahoo finance 3M board...when will the 3M BOD wake up and take some action?????? This company has been on a downward trend for sometime. The only news seems to be bad news. Constant job cuts, restructuring due to... — read more
So what does 3M mean. The common joke inside the company is it means MMM = meetings, meetings and more meetings. These days it might mean 3M = More money missing ( for shareholders and employees that is) Massively mismanaged by... — read more
looks like downsizing from 5 business groups to 4 business groups is not enough. need to retrench more employees soon.
What's the cumulative employee count for the entire company? How many, out of that number work at St. Paul?
What would be the total liability for 3M. Looks like a tsunami of lawsuits and litigations are coming up soon. And this company has stalled as far as organic growth is concerned... — read more
3M Methuen Divestment 2020 900 people will leave in 2020 as part of this divestment
3M to Plan $1 Billion Sale of D–g Delivery Systems Unit https://www.bloomberg.com/news/articles/2019-12-06/3m-is-said-to-plan-1-billion-sale-of-d–g-delivery-systems-unit?srnd=markets-vp
So many changes to the company structures. They claim it will advance the company. You really think so? Look at the direction of share price it’s heading.
Do you believe that there will be layoffs at Methuen plant
This is a master thread about 3M Layoffs 2020? Any news or rumors?
When was the last time 3M did worse than the macro economic environment? When was the last time this company made a significant game changing innovative product? More cost cutting, share buybacks, and expensive acquisitions will help only so... — read more
Now that 3M has acquired Acelity will there be further layoffs and redundancies. After all standard corporate * strategies * call for layoffs after any merger or acquisition
How is Q3 shaping up? The bar is already pretty low with dismal earnings reported in Q3, 2018 ( 3M paid a hefty 850 million settlement to the state of MN for PFAS related chemical contamination). Any insights
3M halting some work in Alabama for environmental reasons....various news outlets
From yahoo finance message board : What kind of mess is 3M in now with their legacy leadership? The last guy did nothing to grow the company and this guy doesn’t seem like he knows what to do either. They just keep managing it as they have which... — read more
Any new announcements next week ?
Is 3M the next GE https://finance.yahoo.com/m/9a7a4899-88b3-3206-a054-bd26c04f1472/is-3m-the-next-general.html — read more
People wanting to leave should really think twice about it. There aren't many companies out there that are much better than 3M. It might seem so from the outside, but check out other companies on this forum - on the inside everybody has the same... — read more
If you are a 3M employee, your payroll system actually has a title “Hire to Retire”. It says all about it’s culture. 3M hires smart people, then make them obsolete. It took them eight years to implement SAP, and it still is not done. Most 3M IT folks... — read more
For how long does 3M plan to torture us before they finally decide to let us know which 2,000 people will be affected by the previously announced layoffs? It's really cruel to announce something like that, give the number of people being affected and... — read more
https://www.fool.com/investing/2019/05/03/3m-applies-a-band-aid-after-a-difficult-first-quar.aspx The timing of the deal is eye-catching for several different reasons. Not only did it come just days after 3M's earnings release, but it also follows... — read more
Major Q1 miss equals major layoffs - 2,000 people to be precise. Of course it's always employees who pay for the mistakes of management. I really hope these layoffs happen sooner rather than later. The following weeks and months are going to be... — read more
Any people re orgs after the recent business group reorg from 5 to 4 groups. When will the company return to growth again....this company will be badly hit when next recession hits since there will be no more levers to turn. Cost cutting is already... — read more
Chemicals cleanup lawsuit https://www.politico.com/story/2018/11/23/political-chemicals-cleanup-3m-1012445 — read more