Sticky Scotch Tape Company 3M Cuts 2000 Jobs Over Falling Sales
Posted on 04/25/2019
Manufacturing conglomerate 3M disclosed restructuring efforts and slashed its sales projections in key markets. 3M witnessed revenue fall by 5% to US$ 7.9 billion in the first quarter of 2019. 3M plans to terminate 2,000 jobs as sales flutter.
“The first quarter was a disappointing start to the year for 3M,” commented CEO Mike Roman in the earnings release.
3M Company is formerly known as the Minnesota Mining and Manufacturing Company. 3M is well-known by its consumers for making scotch tape.
