3M laid off 1,000 workers in second quarter


Posted: Wed, 1 Jul 2009 08:02 AM - 6,918 Readers

By: Chris Newmarker


Layoffs are adding up at 3M Co., according to published reports.

The maker of Scotch tape, Post-it notes and other industrial and consumer products said it laid off 1,000 workers in its second quarter ended Monday.

More cuts are planned, including the elimination of 100 information technology jobs at its Minneapolis area headquarters over the next year. No other information about layoff plans was available.

3M (NYSE: MMM) has gone through several rounds of job cuts since the economy slid into a deep recession last fall. Its total number of layoffs now stands at 2,200 for the first half of the year, and 2,400 in 2008.

The company employs nearly 80,000 workers around the world and is one of the largest employers in Austin with roughly 1,000 people.

With the recession taking a bite out of customer demand, it’s been a rocky time for the manufacturer, with first-quarter 2009 income falling more than 47 percent.




Read Full Story at: Chris Newmarker



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