In grinding manufacturing slump, 3M cuts another 1,500 jobs
Jan 30, 2020 @ 3:01am
(AP) – A profound slump in manufacturing and a trade war that has slowed economic growth in China has led to a second round of layoffs at 3M.
The Minnesota company makes Post-it notes as well as industrial coatings and ceramics. The 1,500 job cuts come on top of the 2,000 jobs the company trimmed less than a year ago. CEO Michael Roman said the cuts will occur across all business groups and geographies.
Earlier this month, the Institute for Supply Management reported that U.S. manufacturing activity fell to the lowest level in more than a decade. A survey by the association of purchasing managers found that companies are uncertain about trade and are seeing weak demand from abroad.
Among 3M plants in Minnesota are locations in New Ulm, Fairmont, and Hutchinson.