3M said it will cut nearly 3,000 jobs around the world as part of an accelerated restructuring plan it says will deliver "greater growth and productivity as global markets emerge from the pandemic."
Dec 3 (Reuters) - 3M Co said on Thursday it would undertake a restructuring that would impact about 2,900 jobs globally. The company expects to record a pre-tax charge of $250 million to $300 million as a result of the restructuring, it said. "The COVID-19 pandemic has advanced the pace of change and disrupted end markets around the world, increasing the need for companies to adapt faster," Chief Executive Mike Roman said.
As the global economy shifts in the wake of the COVID-19 pandemic, 3M (NYSE: MMM) is advancing its operating model, streamlining its business, and focusing on global trends where the company will apply science to life in new ways to drive sustainable growth.