3M expected to cut 400 jobs

 

5 December 2006 — St Paul (MN): 3M is expected to cut roughly 400 jobs at its headquarters by the end of March.

 

The job losses are part of the company’s restructuring plan that involves the elimination of IT, finance and human resources positions. The plans have already resulted in the loss of 150 jobs following the sale of property on the East Side of St Paul.

 

3M has also announced that it has completed the sale of its pharmaceutical operations in the Asia Pacific region, including Australia and South Africa, to Ironbridge Capital and Archer Capital for $349 million.