Ex claimed in October that 100 to 200 tech support employees were going to be let go in December. Supposedly his last day was this Friday, Dec 8th. He said "They let us off at noon and told us to log regular hours." He was at Sullivan Lake Campus... — read more
I haven’t heard anything since last quarters financials were released. I still get the feeling there are a couple more cents can be squeezed out and have heard rumors of project cancellations. Hoping 2024 will be better than 2023. Good luck to all. — read more
Genuine question : If you hate it here so much, why not vote with your feet: Apply, interview and leave to our competitors like Edwards, JNJ, Abbott or Boston? I’m sure they might be totally unaffected with what’s going on right now by high... — read more
Thank the board!
Medtronic's (MDT) turnaround is becoming more tangible, an analyst said Tuesday after the medtech giant beat Wall Street's forecasts, pushing MDT stock higher. The star of Medtronic's fiscal second-quarter report was its new diabetes device, MiniMed... — read more
The decline in stock price was due to broader market and GLP-1 anyway. Looking like layoffs will be very limited early next year now that Medtronic smashes expectation with 5% growth and raising guidance? Covidien and Diabetes carrying the back of... — read more
Will the stock go upto $90 now so I can sell and get out of this pathetic stock?
Team any updates on end of the Q3 LayOff in IT now that major EU stuff are already done. I am primarily thinking about growth in India Hyderabad site headcount offSets by The US employees. Thanks
Is anyone who has been on surest willing to share their experience? I am highly considering it given the increased costs for the other options
Let’s all take a moment to thank our leadership for making the lowest mangers on the latter cut their direct reports bonuses next Spring. Then the board can point to your boss as to why you didn’t get paid out. Real leaders always make sure to run... — read more
Is anyone else surprised that turnover seems to be lower than expected this year? I have my feelers out in the market, but in general it's very clear that Medtronic is no longer the premier employer. No dental insurance cost sharing, 2% merit... — read more
Back toward the real stock value under the current leadership, thank the board!
https://www.businesswire.com/news/home/20231107892415/en/Recor-Medical-and-Otsuka-Medical-Devices-Announce-First-FDA-Approved-Renal-Denervation-System-for-the-Treatment-of-Hypertension 14 years and $5B later, we are still waiting while an unknown... — read more
One more quarter of disappointment with supply challenges and losing market share.
From an analyst article: "For now, investors can remain patient and consider entering the market when prices hover between $45-$55" Thank the board!
After the bloodbath earlier this year where Medtronic showed so many talented people the door, or drove many long timers to retire, its been heartwarming to see so many of those former colleauges posting on Linkedin as they land new roles - and good... — read more
Saw on LinkedIn that MDT IT had a layoff last Tuesday. 120 were impacted.
Thank the board!
Stock is down in the drains. Anyone hearing anything on who will be impacted this time around? Looks like IT and GLS quality already had their rolling layoff rounds this month. What other divisions are expected next? R&D or Operations?
Boeing 737 had serious quality issue due to software bugs and short sighted IT outsourcing to India. Medtronic has been cutting senior IT manager and technical positions and outsourcing to India. Some of these IT knowledge takes years to built, and... — read more
Every medical device stock is down in the last one year. Tell me one stock that is not down. Edwards dropped like 10% just yesterday, JNJ is down 3% today. Stocks go up, stock go down that’s nothing new. Yes Medtronic is impacted more because of... — read more
Thank the board!
Not really that hard to see the writing on the wall so it’s a stretch to even call it a prediction LOL. I will be really surprised if there isn’t going to be another round of mass layoffs some time in early 2024 during Q4. Good luck to us all. — read more
Nice 😉 soon 50s!
Geoff Martha is firmly establishing Medtronic as the undisputed global loser in healthcare technology. As chairman & CEO, Geoff leads the $30 billion and reducing company and its 90,000 (minus those who were RIF'd) employees in pursuit of fulfilling... — read more
People in Communications and HR do read these sites as a matter of routine, in case you wondered. It's someone's actual job to read this site and the other one like it. Yes, sometimes there are emails going around about these comments. No, they don't... — read more
Holy cr-p these benefits su-k! Seems like the surest way to sc--w people who used to be in a bind. Or have teeth.
From https://www.sec.gov/ix?doc=/Archives/edgar/data/1613103/000161310323000132/mdt-20231019.htm Geoffrey S. Martha For: 977,213,742 Against: 55,960,304 Denise M. O’Leary, and Kendall J. Powell had more votes against. I was having trouble... — read more
We have missed the savings targets and ROE targets. More RIFs incoming January. The beatings will continue until morale improves. Send us your dead!
Devices is f*cked. The population is getting better informed, more in tune with this health, want to play a more active role their care and are more vocal about their needs and wants. All this combined gives you a more medical management dependent... — read more
Some people in IT have received meeting invites for tomorrow. Does anyone know how many are getting laid off this time ?
The Tiger King is back baby 👑
Only a few more days until the annual shareholder meeting October 19. This is the decisive moment to determine if the Titanic will either continue to sink or survive. Hopefully institutional investors make the right decision for employees and... — read more
Thank the board!
Thank the board!
Don't know if anyone caught this, but this was announced back in August 2023: "Medtronic said it has changed the MIP for the current year so that missing the earnings per share target won’t disqualify senior executives from payouts." From:... — read more
Today MDT is 94B while Intuitive is 96B Can I get a L M A O Nice going Geoff!!!
Every medical device company along with consumer staples (Pepsi, Coke) is down 20% in the last 3 months, this is not just Medtronic, reason for that is the prevalent use of GLP1 or-l therapies by Novonordisk and Eli Lilly which potentially reduces... — read more
Soon the stock will be in the 60s! Thank the board!