Mon, Feb 12th, 2024 - 7:00pm
May 02, 2023 - 1:51pm | By Tom Tucker
(Fargo, ND) -- Fox9 Minneapolis is reporting 3M will lay off 1,100 employees at its Maplewood headquarters starting June 30th.
The decision comes after the company presented its quarterly earnings report last week, which showed a decline in sales.
3M announced that it would be laying off thousands of employees and undergoing restructuring to make the company "stronger, leaner and more focused."
The reduction of 1,100 employees is part of a larger restructuring plan that includes reducing the size of the corporate center, simplifying the supply chain, streamlining the geographic footprint, and reducing layers of management.
The company will reduce approximately 6,000 positions globally in addition to the reduction of 2,500 global manufacturing roles previously announced.
Through the cuts, 3M anticipates annual pre-tax savings of $700 million to $900 million.
