The fact is that employees are being cut to improve EPS because there is not enough top line growth to full earnings. Growth cures a lot of problems, and it’s tough to see growth on the horizon.
Or maybe someone still sees some growth on the horizon? I really have no idea where it might come from, but I wish there was something to be optimistic about.
From 3M Company's presentation at JPMorgan 2021 Industrials Conference (Transcript), March 16, 2021. ( Transcript at www.seekingalpha.com)
Top management on how to grow the company :-
"Our goal also, as we do these restructurings, as Mike had announced, when we took the charge was, it creates the oxygen for us to invest in our business".
Culling employees and reducing cost is going to the growth driver for 3M moving forward ! No plans for organic growth
The cutting of employees to improve EPS is their last trick to bring up the EPS
Just like the Fed who cuts interest rate to zero % and endless QE. Last of the tricks left.
Sorry I forgot to mention that I quoted @yba+19S9Qukq