3M (NYSE:MMM) laid off another 1,700 workers during its second-quarter — with many of the jobs related to the company’s divested drug delivery business.
The layoff — announced as part of an SEC filing on July 28 — comes after the Maplewood, Minn.–based manufacturing conglomerate said early this year that it would lay off 1,500 workers — though a company spokesperson tells MassDevice that the number is now closer to 1,100 after some natural attrition.
3M announced in late 2019 that it would sell the drug delivery business to Altaris Capital Partners — completing the $617 million deal in May. Roughly 1,300 of the jobs in the new layoff came amid restructuring of corporate functional costs and manufacturing footprint now that the deal is complete.
