As of the end of 2023, 3M had implemented so many rounds of layoffs that I had lost count. There was effectively no job security as the job eliminations were indiscriminate and widespread. The CEO's strategy was to reduce the workforce, and when that didn't improve the business results, reduce further. The spending and investments into the businesses was curtailed so significantly that it was becoming difficult to remain competitive. 3M has sold and divested a number of significant business units which has really changed the nature of the company. There is still a lot of opportunity with the strength and diversity of their brands, but 3M has not been investing for growth which had significantly limited the potential of the businesses and its people.
