Around 1500 jobs to go across all geographies.

 

3M has announced a restructure of its global business units, which will result in around 1500 job losses worldwide.

 

As of last month, 3M introduced a new global operating model which aligned its four business groups – Safety & Industrial, Transportation & Electronics, Health Care, and Consumer – with the company’s “customers and go-to-market models”. 

 

In the new model, 3M’s business groups now have full responsibility for all facets of strategy, portfolio optimisation and resource prioritisation across their entire global operations.

 

Under the prior model, area and country teams – which comprised 3M’s International Operations organisation – were responsible for setting priorities in their regions. All of 3M’s international employees now report into the business groups and functions they are part of, and 3M no longer has an International Operations organisation.

 

In releasing its fourth quarter results last month, the company said consumer division sales overall were flat.

 

Sales grew in home improvement and home care but declined in stationery and office supplies, and consumer health care.

 

Sales grew in Latin America/Canada and the US but declined in EMEA and Asia Pacific.

 

Operating income was US$296 million, up 14 per cent year-on-year. operating margins were 23.4 per cent.