Processing Magazine

3M offers early retirement to 4,900 US workers

December 15, 2011

ST. PAUL, Minn. — 3M Co. is offering early retirement to about 4,900 U.S. employees in an effort to cut costs, Bloomberg reported.

The company expects about 1,000 workers to accept the offer.

3M is seeking to reduce costs after lowering its 2011 earnings forecast in October as sales declined for electronic parts because of lower demand for liquid-crystal-display televisions, the article stated.