In the statement made by the 3M company, which operates in the fields of industry, worker safety, health and consumer goods, it was noted that restructuring steps were taken to make the company stronger and leaner.
The restructuring will reduce the size of the company’s corporate headquarters, simplify the supply chain, streamline 3M’s geographic footprint, reduce layers of management, and align go-to-market models with customers, the statement said.
The company’s statement said the restructuring is expected to affect the jobs of around 6,000 employees worldwide.
In the statement, it was noted that annual pre-tax savings of between 700 million and 900 million dollars are expected, and thanks to the steps to be taken, it is expected to reduce costs significantly, encourage long-term improvement in cash flow, and also provide a more efficient and effective structure to support long-term growth. .
The statement emphasized that the company will continue to direct its business activities to fast-growing markets including automotive electrification, home improvement, personal safety, electronics and healthcare.
In January, 3M announced that it would lay off 2,500 employees worldwide.