3M St. Paul East Side Site to Reduce Manufacturing Operations; Technology Resource Center Planned for Site.Business Editors & Technology Writers ST. PAUL St. Paul as a missionary he fearlessly confronts the “perils of waters, of robbers, in the city, in the wilderness.” [N.T.: II Cor. 11:26] See : Bravery , Minn.--(BUSINESS WIRE)--Feb. 7, 2002 3M announced today it will phase out most of its production operations on St. Paul's
Currently, 3M's East Side site has about 1,500 employees -- about two-thirds engineers and designers, and one-third maintenance and production workers. Over the next 12 months, about 500 manufacturing and manufacturing-related jobs will be eliminated at the site, leaving about 1,000 positions on the East Side. Longer term, the company expects East Side employment to climb as the technology resource center is developed, and as employees currently in leased space move into the East Side site. "This action at the East Side site is part of 3M's restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). announced last April and reflects dynamic changes in economic conditions, customer expectations and new manufacturing technologies," said Ron Belschner, vice president, Engineering, Manufacturing and Logistics. "Our immediate focus is on people who are directly affected by this announcement," said Belschner. "We will work with them to ease the transition to retirement or other positions at 3M or another company. Several programs will be established to help them manage their finances, find other positions and return to school, if they choose. All eligible employees will receive a severance package A severance package is pay and benefits an employee receives when they leave employment at a company. In addition to the employee's remaining regular pay, it may include some of the following:
"While the changes to the manufacturing component are difficult, we're looking forward to transforming the site into a technology resource center," Belschner added. "The new focus will be on product development, engineering and environmental technologies." About 3M 3M is a $16 billion diversified diversified (di·verˑ·s technology company with leading positions in health care, safety, electronics, telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. , industrial, consumer and office, and other markets. Headquartered in St. Paul, Minnesota, the company has operations in more than 60 countries and serves customers in nearly 200 countries. 3M businesses share technologies, manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. , brands, marketing channels and other important resources. 3M is one of the 30 stocks that make up the Dow Jones Industrial Average Dow Jones Industrial Average The best known U.S. index of stocks. A price-weighted average of 30 actively traded blue-chip stocks, primarily industrials including stocks that trade on the New York Stock Exchange. and also is a component of the Standard & Poor's 500 Index. For more information about 3M go to www.3M.com or www.3M.com/profile/pressbox/index.jhtml. |
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