3M to cut 2,500 jobs as CEO Roman vows to reexamine 'everything we do'

The maker of Post-it notes, surgical supplies and touch-screen displays said Tuesday that it sees adjusted earnings for 2023

3M
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Ryan Beene | Bloomberg
3M Co. said it plans to cut about 2,500 manufacturing jobs, citing persistent economic hurdles, and forecast profit for this year that fell short of Wall Street estimates. The stock tumbled by the most in nearly 13 years.
 
The maker of Post-it notes, surgical supplies and touch-screen displays said Tuesday that it sees adjusted earnings for 2023 in a range of $8.50 to $9 per share, excluding special items. That’s below the average analyst estimate. Organic sales could fall as much as 3%, the industrial and consumer-goods conglomerate said.

“We are not satisfied with our progress or performance,” Chief Executive

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First Published: Jan 24 2023 | 9:54 PM IST

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