3M cutting another 2,900 global jobs in second restructuring within a year
LONDON, Ont. – The maker of Post-it notes and industrial coatings says an additional 2,900 jobs will be cut around the world following another restructuring, this time spurred on by the COVID-19 pandemic.
3M says the changes will affect all of its business groups, functions and geographies, but it won’t say how its Canadian operations will be impacted.
3M Canada has 1,900 employees at its manufacturing, distribution and research operations, including 800 at its head office in London, Ont.
In January, the Minnesota-based company launched a new global operating model it says is more customer-focused and responsive while cutting 2,000 jobs following a slower-than-expected 2019.
The latest changes announced Thursday are designed to further enhance its operations by eliminating redundancies and better use analytics to drive additional efficiencies.
3M says the changes will allow it take advantage of global market trends in e-commerce, personal safety, health care, automotive electrification and home improvement, while de-prioritizing investments in end markets where growth is slower.
“The COVID-19 pandemic has advanced the pace of change and disrupted end markets around the world, increasing the need for companies to adapt faster,” said chairman and CEO Mike Roman.—Ross Marowits