EMCC European Monitoring Centre on Change

3M

Company/Organisation:
3M

Geographic Location

Country: World

Company

Sector: Manufacturing
Manufacture of machinery and equipment n.e.c.
28 - Manufacture of machinery and equipment n.e.c.
Number Employed: 88000

Employment Effects

Announcement Date: 24-01-2013
Planned Job Reductions min: 300
Planned Job Reductions max: 300
Type of Restructuring: Internal restructuring
Foreseen End Date: 31-03-2013

Additional Information

3M, diversified manufacturer, has recently announced its plans to eliminate 300 jobs due to a merge of the company’s security and traffic safety divisions. This step forms part of a broader cost cutting strategy and according to the company these units had been recently underperforming. The job reductions will be affected during the first quarter of this year, although it has yet to be decided where the job cuts taking place.

The company currently employs around 88,000 staff worldwide and operates in 65 countries. In 2009, 3M, which is a market leader in several industries- from health care and highway safety to office products and optical films for LCD displays, has reduced its staff levels by 1,800 employees (here).