3M plans to cut 6 000 jobs in the manufacturer’s latest move to adjust to slumping demand in several key markets. Moneyweb JobCuts
3M plans to cut 6 000 jobs in the manufacturer’s latest move to adjust to slumping demand in several key markets. The reductions, part of a wider restructuring of the manufacturer, are expected to narrow annual costs by as much as $900 million, 3M said in a statement reporting first-quarter earnings on Tuesday.
The conglomerate’s operational struggles have added to investor fears over what could be billions of dollars in potential liabilities stemming from allegedly faulty earplugs supplied to US combat troops and contamination from so-called forever chemicals, which 3M plans to stop producing by the end of 2025. The company also announced management changes.
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