After getting rid of 1,500 jobs in January restructuring, 3M cuts 1,700 extra

Just after announcing in January that it would cut about 1,500 careers in a further restructuring, 3M has due to the fact moved to get rid of an additional 1,700 positions thanks to COVID-19 and the sale of its drug shipping and delivery enterprise.

Throughout the second quarter, 3M fully commited to a restructuring specifically similar to the pandemic and its economic impacts, major to about 400 task cuts around the world, the corporation reported in a a short while ago submitted report with federal securities regulators.

In addition, about 1,300 employment have been removed with the $650 million sale of most of 3M’s drug delivery organization to Altaris Capital Associates, which shut in May perhaps, the filing said.

The business’ around 900 direct staff members in Maplewood continue to be in the Twin Towns, only possessing been transferred from 3M to Altaris’ Kindeva Drug Shipping and delivery.

But yet another 1,300 world-wide company support positions for the drug delivery business enterprise have been eliminated due to the fact they were no extended desired. All but a handful of those people were being exterior of Minnesota, mentioned Fanna Haile-Selassie, a 3M spokeswoman.

The 400 career cuts owing to COVID-19, along with the 1,500 occupation eliminations announced in January, did not lead to a corresponding variety of layoffs because of to worker attrition and a choosing freeze, Haile-Selassie reported. Instead, about 1,500 in total will be laid off.

These two rounds of cuts led to less than 70 positions currently being removed at 3M’s Maplewood headquarters, she reported.

At the get started of 2020, 3M experienced roughly 15,000 staff in the state, of which a very little far more than 10,500 were primarily based in Maplewood. That designed it one particular of the state’s largest personal businesses.

Last 7 days, 3M reported double-digit declines in second-quarter gross sales and revenue as it was strike tricky by the virus-induced economic downturn all-around the environment.

In January, the enterprise announced the 1,500 task cuts more than 2020, portion of a restructuring of its intercontinental operations. At the time, the corporation was coming off weak final results in the last three months of 2018, when it was hurt by diminishing desire in China and declining U.S. industrial revenue — especially in the car company.

3M in April 2019 announced a restructuring that entailed a different 2,000 work cuts.

The firm utilized 96,163 people today at the stop of 2019 41% labored in the United States, in accordance to a federal securities submitting. With acquisitions in modern many years, that variety is up from 93,516 in 2018 and 91,536 in 2017.