IT Group Holdings (fka ITGL)

[TechKim]

3M planning to cut 1,200 more jobs
Fewer than half the jobs lost will be in United States

http://www.msnbc.msn.com/id/29988558/

MAPLEWOOD, Minn. - 3M Co. says it’s cutting its worldwide work force by another 1,200 jobs, or 1.5 percent, because of the global economic slump.

3M spokeswoman Jacqueline Berry said Tuesday that fewer than half the jobs will be in the United States, but include “several hundred” in Minnesota, mostly at the company’s Maplewood headquarters.

Berry said the 1,200 figure includes cuts made earlier in the first quarter. In January, 3M executives reported that they had eliminated more than 2,400 positions worldwide during the fourth quarter.

3M, the maker of Scotch tape, Post-It Notes and other products, has operations in more than 60 countries that employ 79,000 people, and generated about two-thirds of its revenue outside the U.S. last year.

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