The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Chemicals And Pharamceuticals Manufacture Of Chemicals And Chemical Products 20 - Manufacture of chemicals and chemical products
2,500 jobs Number of planned job losses
Announcement Date
24 January 2023
Employment effect (start)
24 January 2023
Foreseen end date
Description
3M has announced a global restructuring plan which will reduce their manufacturing workforce by 5% (2500 employees). 3M employs just over 96000 employees worldwide, 50000 are in manufacturing, however location-specific impact has not been announced. The CEO has stated the restructuring is a result of a combination of factors worldwide, including drop in consumer demand/spending, inflationary pressures on operating costs, COVID-related disruptions in China and disruption due to the war in Ukraine.
There has been no information on the role of social partners or the restructuring process for employees.
Eurofound (2023), 3M, Internal restructuring in World, factsheet number 108359, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/108359.
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