The Fine Print: 3M

The Fine Print: 3M

3M cuts jobs but has more employees--a look at the numbers.

In January, Maplewood-based 3M Co. announced plans to cut 1,500 jobs globally, following 2,000 layoffs announced in April 2019. But at the end of 2019, 3M reported about 96,000 global employees—2,647 more than it had reported at the end of 2018. How exactly did 3M add so many jobs while cutting so many positions? The company’s $6.7 billion acquisition of Texas-based Acelity Inc. in 2019 boosted headcount. Even after deducting the planned cuts of 1,500 new jobs, that would bring 3M to an estimated 94,700 employees—up 18 percent since the end of 2010.

Read more from this issue