3M Plans To Lay Off 1100 Workers From Maplewood Campus: Notice

MAPLEWOOD, MN — The 3M Company plans to lay off approximately 1100 employees from its global headquarters in Maplewood, according to a WARN letter sent to the state Tuesday.

The terminations will begin on June 30. The entire Maplewood site will not be closed as part of the layoffs, the company said.

Employees are not represented by a union and do not have bumping rights. There are no trade implications, according to the notice.

The 1100 layoffs in the WARN letter are among, not in addition to, the 6,000 global job reductions that 3M announced last week.

The multinational conglomerate expects to save between $700 million and $900 million once the restructuring is complete.

"In the first quarter we continued our relentless focus on serving customers and aggressively managed costs," said 3M chairman and CEO Mike Roman in an April 25 news release.

"Market trends were as we expected, and we made changes to improve our operations and position us for success as supply chains improve."

3M generated 8 billion year on year, which is down 9 percent from the previous time period. Its stock has fallen nearly 16 percent since the start of 2023.

The company told shareholders last week that the restructuring actions are intended to make 3M "stronger, leaner and more focused" by simplifying its supply chain and reducing layers of management.

3M is just the latest U.S. corporation to announce layoffs. In March, employers reportedly moved to lay off nearly 90,000 workers. In the tech sector, which hired aggressively during the pandemic, Q1 job cuts were a staggering 38,000 percent higher than in Q1 2022.

Editor's note: This article was updated for clarity