3M offers buyouts to 3,600 US employees
Maplewood, Minn. — (AP) - 3M Co. is offering early retirement packages to 3,600 employees in the U.S. as the maker of Post-it Notes and Scotch tape tries to cut costs amid the economic downturn.
3M isn't saying if it has a target number of employees it hopes will take the package. The number of employees being offered buyouts is abou t 11 percent of 3M's 33,600 U.S. employees.
Employees receiving offers are nonunion. Eligible 3M employees are receiving details of the packages Thursday 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.
Information from: St. Paul Pioneer Press, http://www.twincities.com
(Copyright 2009 by The Associated Press. All Rights Reserved.)