3M to Lay Off 1,100 at Maplewood HQ
3M on Monday said it plans to lay off 1,100 employees working for its Maplewood headquarters.
According to a May 1 notice sent to the Minnesota Department of Employment and Economic Development, the company said terminations are slated to begin on June 30.
In the letter, the company provided few details about the types of jobs that are being eliminated, other than noting that none are represented by a union.
The layoffs disclosed Monday are indeed part of 3M’s previously announced plan to eliminate 6,000 jobs globally, a company spokeswoman confirmed via email. At the time, 3M said it was eliminating just 600 jobs in Minnesota. The company was required to disclose the layoffs under Minnesota’s Worker Adjustment and Retraining Notification Act, also known as WARN.
“The 1,100 in our WARN notice includes the 600 Minnesotans mentioned last week,” the 3M spokeswoman said. “The additional number adds in remote employees who work for our headquarters but are not based in Minnesota.”
At the end of 2022, 3M reported that it employed 92,000 employees around the globe.
The job cuts appear to stem from declining quarterly revenue. In the first quarter of 2023, 3M reported that its revenue dropped 9% to $8 billion. In a research note cited by the Star Tribune last week, Wolf Research analyst Nigel Coe said that “3M is finally responding with aggressive cost actions.”