2,900 Mass Layoffs From 3M Despite Health Sales, Why Are They Losing So Much Money?

3M was the centerpiece early on in this recession and had what I thought was a tremendous opportunity. Funny 3M products were sold out early on and for the most part, I didn't see too many people wearing 3M respirators walking around. The real trouble is that many offices are moving to remote work and 3M's empire is built on office supplies so it's not really equalizing. Schools are another big customer for the maker of post-it notes and we see there has been a lot of changes that could make some of those contact filled forms of communication like post-its may become phased out from lack of use. This could actually get much worse for 3M who has had their entire business constricted and released at multiple points being an international shipper and producer of health supplies.