 "layoffs, job loss, lay-offs, unemployment")
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.
“We expect macroeconomic challenges to persist in 2023,” Chief Executive Officer Mike Roman said in a statement Tuesday. The planned job cuts are “a necessary decision to align with adjusted production volumes,” he said.
The maker of Post-it notes, surgical supplies and touch-screen displays sees full-year adjusted earnings for 2023 in a range of $8.50 to $9.00 per share, excluding special items. That’s below the average analyst estimate. Organic
