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.

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