First step will be Healthcare, announced at next earnings call. Brining all the leaders to town to announce even though travel is banned. Layoffs announced then too. Final piece will be the break off the other parts. Moving all the businesses that stay into once building now with new CEO and CFO headquarter, and all the bad parts to another. Sorry folks, endgame is here soon.
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Looks like this OP was spot on. Except for the layoffs bit…yet.
Travel is banned for peons in the field. Has been for several months. Maybe not your division?
The funny bit is those who have been on the inside would know that even the good pieces had the lawsuits, they just didn’t get as unlucky as the bad pieces.
The good pieces had even worse criminals running the shitshow. Don’t worry the good pieces will also see their worth very soon.
Something tells me even the parts that do remain aren’t really going to thrive. The problem was never their luck, the problem was their ethos. Granted even bigger ba----ds exist, but it takes a combination of ba----dry and foolhardiness to end up in these kinds of situations.
Since the same muck will persist, Another big legal dent will come to the parts that were saved, and there will be one more split.
My advice is to sell the bu-----t off and go on a holiday with what remains, else you might unintentionally do something sh---y got yourself.
So they would feign bankruptcy by splitting off and passing the blame onto one small part, in order to avoid paying veterans settlement for their lawsuit. Classic mother mining.
Fu-k something real bad, search for alibis and keep the ba----dry going to keep themselves entertained. I am not going to use the word ethics and 3m in the same sentence.
Sell as much as you can, the company was wretched inside out.
Can simply sell divisions, not business groups.
Healthcare is the best business we have right now... if I was in there I'd be begging to get sold off from the rest lol.
I can confirm parts of OP's story, but the conclusion I think is flawed.
The C-suite executives are moving around the quad. But only because building 220 14th floor is being renovated. (about an $8M project last I heard) A quarter of a floor in 223 is being renovated to the CEO to move into later this year. (That space was only 3 years old and has been gutted to the studs already.) Other C-suite execs have already been moved around to other places.
SIBG is consolidating all their marketers onto just one floor of 223. CBG has set up on another floor of 223. It is all based on a hot-desk arrangements.... FML. Director and VP level employees won't even have a desk to call their own, let alone an office.
225 is being fully shut down, utilities and all, to save money and all staff moved to other buildings.
Several lab buildings are on the chopping block. 218 complex and 250 complex are first up. Another new laboratory building is in planning for the west part of 3M Center for them but only a small fraction of the prior space. If 3M survives, the lab plan will take at least 5 years to pull off and cost low to mid 9 figures.
Keep making up stories to scare people. What you guys (or it may be a single person?) get out of it?
Not gonna to speculate on likelihood of this move right now, but the market is clearly valuing splitting conglomerates into industry specific companies to unlock value. (Dow, DuPont, GE, Toshiba, Kellogg’s, etc…) 3M has long touted their technology platforms and corporate research as a unique benefit of the conglomerate structure, but I think that reasoning is wearing thin with the lack of overall organic growth. I don’t if it would be wise but the pressure to split is definitely present.
Why would anyone get rid of a healthy Healthcare business in an era of a large, wealthy, aging population? The sector is poised for massive growth. I agree. This makes no sense.
This post is ridiculous. They would not announce spin on quarterly earnings.
Travel is not banned right now.