Isn't it funny that the overwhelming majority of new hires have no experience? We must really be scraping the bottom of the barrel if the only people we can get to join are those who call this their first proper job. In all seriousness, though, why would anybody with options want to join this mess?
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It's encouraging to see that the dividend is covered by both profit and cash flow. This generally suggests the dividend is sustainable, as long as earnings don't drop precipitously. although share price falling. Rumor mill going wild with job action strikes happening very soon at Maplewood ,Bobbio,Italy and England plants Skelmersdale and Bangor.
Look for mass exodus coincident w option grants
From Yahoo finance message board : - ( sums up the current layoff situation very nicely)
3M is like many US corporations. If they aren't growing, they cut costs. One area of cost cutting is letting their higher priced, senior people go. This saves them money on payroll and benefit expense as well as pension costs. Yes, they give employees a severance but its a drop in the bucket compared to the money they are saving. The one thing that they aren't considering is the experience and know how that is walking out the door. They just don't value it or else they wouldn't repeat the same practice year after year.
Headcount reduction is a cover for poor management and poor management planning. If they were looking forward, this shouldn't happen. Like many US companies, my guess is 3M is no where near what they were at one time particularly about understanding their customers and customer needs.
Hold off until end of February to buy shares, the slide will drop to 130-135 starting third week in February,
It is worrying, but every cloud has a silver lining, department's take the hit of excellent 360 training and give the new employee the confidence and tools to succeed and build 3M up in future,
Here's to the previous comment :
New / newer employees are leaving the company at an alarming rate. Fresh graduates join 3M based on external reputation of the company as a solid and reputable science and technology based company. Within a short few years they realize that growth potential is pretty much non existent unless someone joins management track.
Whatever job stability was there is now gone with annual layoffs over the past four years and newer folks leave for the exit in 3 to 4 years.
Superb? Lol. Also, people with experience cost less, and also people that are diverse. So ideal candidates are diverse with no experience.
Its an irony that it took so many layoffs to achieve this so called "superb" year results. Moving forward will this be the Norm practice?
Superb year from you guys, thank you, sales over 35 billion, shareholders paid out well, if you all take your 1% pay increase this year we can beat the 2021 figures, Are you with me.. <
They wont pay $$ market to get experienced people. That is nothing new.
It is worrying, but every cloud has a silver lining, department's take the hit of excellent 360 training and give the new employee the confidence and tools to succeed and build 3M up in future,