Post-it Note maker to cut 2,500 jobs as demand tails off

Post-it Note maker 3M announced it will cut 2,500 jobs as it reported lower profits and offered a weak financial forecast for 2023.

The company also expects US growth in 2023 of just 1pc, chief executive Mike Roman said.

“Based on what we see in our end markets, we will reduce approximately 2,500 global manufacturing roles – a necessary decision to align with adjusted production volumes,” he said.

The move comes as 3M, which operates in several sectors including health care, transportation and electronics, contends with a drop in pandemic-related sales of items including masks as well as “rapid declines” in consumer-facing businesses.