3M offers early retirement deal, expects 1,000 employees to opt in - Bring Me The News

3M offers early retirement deal, expects 1,000 employees to opt in

About 4,900 workers will qualify for the early-retirement incentives, according to the Pioneer Press. The company says it wants to lower costs and conserve cash.
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About 4,900 workers will qualify for the early-retirement incentives, according to the Pioneer Press. The company says it wants to lower costs and conserve cash.

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Fewer than expected 3M employees accept early retirement deal

The Pioneer Press reports about 600 workers will participate in the incentive program. The Maplewood-based company offered the retirement package to about 4,900 employees in December and expected about 1,000 people to opt in. A spokeswoman told the newspaper, 3M didn't need a specific number of workers to accept the offer.

Sick-time payouts jump as more state workers retire early

Thousands of employees are taking an option to retire early as the state tries to trim its workforce and balance the budget. But, as the Pioneer Press reports, many state employees take tens of thousands of dollars in unpaid sick time with them when they leave.

Acquisition expected to strengthen 3M in office supply sector

3M announced Tuesday that it will acquire California-based Avery Dennison Corporation for $550 million in cash. The company specializes in labels, binders, presentation products, and highlighters. The move is expected to strengthen 3M's position in the worldwide office-supply sector.

3M expands solar-film plant

3M is expanding its sustainable energy footprint with its new photovoltaic film manufacturing plant in Missouri. The Maplewood-based conglomerate says the film cuts manufacturing time and replaces the need for the heavy glass used in rooftop solar modules. The Star Tribune also reports the project will lower costs for U.S.-based makers of solar panels.