• big-banner-ad_2-sean
  • 2toner1-2
  • 05 02 2016 429716a-cig-clearchoice-banner-902x177
  • Print
  • Video and Film
  • 7035-overstock-banner-902x177
  • 4toner4
  • cartridgewebsite-com-big-banner-02-09-07-2016
  • mse-big-new-banner-03-17-2016-416616a-tonernews-web-banner-mse-114
  • mse-big-banner-new-03-17-2016-416716a-tonernews-web-banner-mse-212


 user 2009-05-11 at 11:43:56 am Views: 38
  • #21974

    3M Accused Of Age Discrimination In Class-Action Suit
     Former and current employees of 3M Co. (MMM) filed a class-action lawsuit accusing the diversified manufacturer of discriminating against employees who are older than 46 and claiming it either fires them, or forces them to resign or retire.

    The complaint, filed in a California federal court, alleges that since at least 2001, 3M has discriminated against these older workers in performance appraisals, training, promotions and pay because “it perceives them as unwilling or unable to accept or adequately implement the company’s new management techniques.”

    The lawsuit, which so far includes about 50 men and women, but has a potential 6,000 current and former 3M employees as plaintiffs, adds that 3M tried to shield itself from liability by causing departing employees to sign releases that “misrepresent their rights and fail to give them required information necessary to determine whether they have been the victims of age discrimination.”

    The suit says the alleged discrimination stems largely from the 3M’s selection of management trainees. According to the complaint, 3M selects very few persons over age 45 for training as Six Sigma “Black Belts” or “Master Black Belts” compared to their presence in the work force, and selection gives younger employees huge advantages in subsequent employment decisions. The plaintiffs also alleges that older workers have been disproportionately downgraded in the company’s performance assessment system, with negative effects on promotion, pay, and termination decisions.

    The lawsuit comes on the heels of a similar case filed against 3M in Minnesota. It also comes as the maker of a broad range of products including Scotch tape and Post-It notes is grappling with a drop in demand and other challenges.

    Last week, Moody’s Investors Service lowered its credit ratings on 3M by one notch because of its rising debt-to-earnings ratio. The company has taken out debt in recent years to fund share buybacks and acquisition in recent years, outpacing cash flow. Standard & Poor’s Ratings Services downgraded 3M in March, citing its declining earnings and recent debt issuance.Shares were down 0.9% at $57.94 in recent trading. They have lost roughly a quarter of their value over the past year.