3M offers buyouts to 3,600 employees
3M Co., based in Maplewood, is offering buyouts to 3,600 U.S. employees in their latest effort to cut costs and staff.
That comes to about 11 percent of the company's total workforce, but it is unclear how many of those employees they expect to take the early retirement offer. About 10,000 of the company's 33,600 U.S. employees are located in the Twin Cities.
3M is offering the buyout to employees based on their age and time with the company. More from the Pioneer Press :
The decision whether to take the offer is up to individual employees, said Jacqueline Berry, a 3M spokeswoman. Eligible 3M employees are receiving details of the packages today and will have until May 31 to make a decision.
The early retirement program follows a wave of layoffs at 3M in recent months, including 2,400 jobs cut late last year, and another 1,200 in the first three months of 2009. Those included a mix of international and U.S. jobs.
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