Thread regarding Medtronic Inc. layoffs

Workforce Refuctions

Today they announced early retirement to persons 59 and a half or older. It's possible we might see voluntary layoff offers to follow. Then, the not-so-voluntary separations. Will see.

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Post ID: @OP+15V3oeNV

23 replies (most recent on top)

So glad to be OUT! I got cut at the end of Aug. and I’ve never felt so happy and free! MDT is toxic all the way around. Leaders all have their own agendas, and don’t give a sh– about the people who actually do the work.
Bye Medtronic- glad you are in my rear view mirror!

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Post ID: @16yei+15V3oeNV

One of those telephone techs was me. I just heard the whole UC team is either gone, or going to be gone.

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Post ID: @12cmw+15V3oeNV

Handful of directors removed in location in Minneapolis. Announcement of mfg plant consolidation (long overdue). Some RTG VP asked to take early retirement.

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Post ID: @Vrdg+15V3oeNV

The news is that the new organization will be announced at the virtual shareholder meeting on Oct 14.
The company became so top heavy - I hope that they reduce VPs by 50% and keep the workers and engineers

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Post ID: @Svfo+15V3oeNV

Major re-org structure and layoffs at upper management to occur by Nov. 1st. Could be announced within the next 30 days.

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Post ID: @Qhxg+15V3oeNV

Can confirm Layoffs last week. Six people were laid off in our Plant in Northern California. Thats in addition to wildfires and our eventual site closure announcement with everything being shipped to East Coast in four years.

In a nutshell Neutron Geoff will enjoy his eventual big fat bonus while all of us get the boot.

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Post ID: @Peif+15V3oeNV

The communications from Geoff and Brett after the layoffs were not reassuring. Sounds like we are in for five months of restructuring, including more job cuts.

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Post ID: @Nwzh+15V3oeNV

Spine had several days of layoffs last week, including people from many functions. Totals are probably 30+ in Memphis, but accurate numbers are scarce.

How did your groups fare?

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Post ID: @Ntlf+15V3oeNV

Layoffs in Louisville Colorado on Friday the 28th. I personally only know 3 at this time (different departments), and heard all locations were hit. 1 took the early retirement package, the other 2 were involuntary - all over 50 yrs of age and all had 15+ yrs at Medtronic.

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Post ID: @Nloy+15V3oeNV

International reductions are expected to take place this week.

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Post ID: @Mkyq+15V3oeNV

I was notified on August 26th that my position will be eliminated on October 25th. I am in Spine Memphis. I was told that my work will stop immediately but will be paid and provided benefits until October 25th. Then I would receive a one month’s salary as severance and my accumulated PTO.

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Post ID: @Ljeb+15V3oeNV

MITG also had layoffs yesterday. Of the names I knew, it was from upper management.

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Post ID: @Lxbf+15V3oeNV

Layoffs happened in Spine yesterday. Leadership has not yet communicated any details, so the full scope is not clear yet. But I know of about 20 people so far. Anyone else know more? What about other groups outside of Spine?

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Post ID: @Kpob+15V3oeNV

I was just laid off in IT. Two months of pay and benefits, ability to apply back at MDT again during this time. Then 2 weeks of pay for every year worked there.

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Post ID: @Chii+15V3oeNV

2 workers from I.T (the telephone technicians) were laid off. Also 3rd shift production were sent home. Any more info on this?

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Post ID: @Bafs+15V3oeNV

I took the voluntary. So-so package but the timing says that the involuntaries will start in the second fiscal quarter - maybe right after xmas. Reduction of managed costs is inevitable. The BOD has to keep wall street happy.

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Post ID: @Alwb+15V3oeNV

They are not renewing contractors either.

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Post ID: @euye+15V3oeNV

They will not offer voluntary layoffs. They will go straight to involuntary.

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Post ID: @agpu+15V3oeNV

It’s not division specific. It’s across all lines and divisions. From assembly workers and admin to field sales, marketing etc.

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Post ID: @8azv+15V3oeNV

Yes, volunteer early retirement packages are arriving at homes July 22. An email was sent last Wednesday announcing it. My husband is being offered an early retirement. He’s been in cardiac rhythm sales for 31 years. We received an overview but the package specific to him arrives Wednesday. He’s definitely taking it

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Post ID: @7xlp+15V3oeNV

Not sure about voluntary layoffs anymore because they go from early retirmt offers directly to involuntary layoffs. Avg severance pay for a long-timer is maxed out at 6 months while early retirmt pay is maxed out at 12 months. Some employers post a graduated schedule of severance pay based on # of yrs employed so check out your hr policies for info. Some employers offer credited yrs toward pension benefits, too. Generally, early retirmt pkgs tend to be better than severance pay for long-timers. Think carefully and good luck with whatever you choose.

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Post ID: @3hmn+15V3oeNV

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