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    Vikshita Vitthal Gujaran in News

    25-Jan-2023 02:11 PM


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    3M To Cut 2,500 Jobs As Consumer Facing Businesses Face "Rapid Decline"

    3M announced Tuesday it will cut 2,500 manufacturing jobs as the industrial giant reported lower profits and offered a lackluster 2023 outlook based on weakening demand.
    The move comes as 3M, which operates in several sectors including health care, transportation and electronics, contends with a drop in pandemic-related sales of face masks or "respirators," and "rapid declines" in consumer-facing businesses.

    The company also expects very low US growth in 2023 of about one percent, under the global average of 1.5 percent, Chief Executive Mike Roman said on a conference call with analysts.

    Source - NDTV