News > 3M to cut 2,500 jobs

3M to cut 2,500 jobs

25/01/2023 05:56 PM | Click to read full article

The multinational conglomerate 3M (MMM) notified on Tuesday that it is going to cut 2,500 manufacturing jobs. The US-based industrial conglomerate has been struggling with a reduction in demand for consumer and electronic items and predicted a gloomy first quarter. The 3M is expecting adjusted sales to be between $7.2 billion to $7.6 billion in the first quarter, a decline of 10-15% YoY. The decision to cut jobs by 3M comes amid the recent layoffs by companies like Google, Microsoft, and Amazon.