3M Plans to Cut 2,000 Jobs as Its Sales Fall – The Wall Street Journal

3M Co. said it would cut 2,000 jobs and restructure its sprawling business after demand for its tapes and adhesives fell in China and other important markets.

Shares in the manufacturer of Post-its and industrial products were down 10% in recent trading Thursday, knocking about 150 points off the Dow Jones Industrial Average, after 3M said its net sales fell 5% to $7.86 billion in the first quarter, a worse-than-expected result.


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