Solventum Lays Off Unknown Number of EmployeesSolventum Lays Off Unknown Number of Employees

Solventum, which was spun out of 3M’s healthcare business in April, is embroiled in a round of layoffs just before the holidays.

First reported by The Minnesota Star Tribune yesterday, citing a video message company CEO Bryan Hanson sent to Solventum’s 22,000 employees, the layoffs will affect an unclear number of employees and was put in motion to reportedly increase investment in other areas of the company.

According to the article, Hanson said, “We may be eliminating these positions to refocus our investments, but that doesn’t mean that the team members in these impacted positions don’t matter. They absolutely do matter.”

Since the company confirmed the layoffs to multiple new sources, it has also said that the cuts will affect employees across multiple divisions. As of now, several employees have reported that the size of the layoff had not been communicated, even if it hit their teams directly.

Severance agreements have not been disclosed, with Hanson only writing to the Star Tribune that, “These decisions were not taken lightly and affected employees are being supported. We will continue to invest in our people and hire the talent we need into roles aligned to our strategic priorities.”

However, according to TheLayoff.com, laid off employees are feeling far from supported. Discussing the decision to enact cuts this close to the holiday’s, some anonymous posters highlighted their tenure with 3M and then Solventum after the separation. One writing, “[I] have been there 17 years. I’m heartbroken.”

Another wrote, “Yup, had my 20 minute this morning. I was a software developer for HIS for 5 years.”

Talking generally about the layoff’s, one poster wrote, “Cuts were made in IT already today. Not sure how many total. Evidently a couple managers were able to confirm that their team members were safe this morning, others have nothing to do but wait. No clue how long this round is going to last. We’re already running too lean. Starting to get really demoralizing around here.”

Of note, these posts are anonymous and cannot be corroborated.

Solventum officially split from 3M on April 1, becoming a new publicly traded healthcare company, currently headquartered in Maplewood, MN. However, the company moving its Minnesota operation to Eagan in the next few years, costing about $209 million.

The 3M healthcare business that now makes up the company generated $8.2 billion in revenue last year. More recently, in Solventum’s Q324 financial report, the company said its operating margins decreased more than 10% compared year-over-year (YoY) and saw adjusted net profits of $285 million on $2 billion in sales. Adjusted profits fell more than 40% compared to the performance of the same four divisions when a part of 3M. Even so, the company raised its full-year guidance after beating the consensus forecast on Wall Street.