3M India moves its headquarter to co-working space during pandemic, CFO News, ETCFO

Mamta Janak Gore, CFO, 3M IndiaBy Aniket Dharmadhikari & Vartika Rawat

What will change completely once the pandemic is over in terms of company work culture, business segments, business model? The finance chief Mamta Janak Gore of 3M India, a conglomerate known as the maker of N95 masks, or the popular household hygiene product, Scotchbrite, responded, “3M India office headquarters in Bengaluru has moved to a co-sharing workspace effective May 1 to adapt to the changing environment in office utilisation.”

Furthermore, she explained that it appears evident that some of the most significant changes will be around remote working and flexibility, the need for physical office space as well as accelerated adoption of digital tools in internal processes and customer interactions.

“We will continue to work within our teams to find an ideal solution to address concerns about business productivity and social interaction to ensure they are balanced with our work from home guidance,” she added.

Challenges to streamline different business segments to the new normal

As the virus impacted business around the globe and across sectors, many businesses faced challenges spanning from liquidity crunch to keeping business segments solvent.

The pandemic has been a catalyst for the adoption of digital transformation and e-commerce, globally. 3M India was no different and their consumer business transitioned very quickly to the e-commerce space as an additional platform.

“In Q1 of FY 2020-21 and with the onset of the spread of Covid in India and the resultant lockdown, we were impacted both in terms of the drop in sales volumes as well as supply chain disruptions. That said, we have been able to recover steadily quarter or quarter from then on. Our personal safety, consumer and automotive businesses had seen a quicker recovery, prior to the recent lockdowns. We managed this effectively by being diligent with our balance sheet and cash position,” she shared.

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