Thread regarding 3M layoffs

As to "modestly higher organic growth versus history", BB has already hired more engineers and is trying to revitalize the labs. Also, fluorochemical related resources are being/have been transferred to other areas to help NPI projects.

Will the plan succeed ... this management team has already delivered more than MR & MP ever did. We'll have 1% growth and 20+% margins for the first time in years. Plus very little, if any, cost cutting related layoffs in 2024 (plant closures and other strategic shifts not withstanding ... no layoff is good, but better than perpetually "restructuring" during the previous regime).

BB has already stated how the company can expand margins. They are:

• Drive OTIF to > 85% to avoid penalties from customers ... but this could lead to increased inventory
• Increase utilization, which could include shuttering some plants. 3M has too many factories
• Reduce waste (streamlining product wheels), which means elimination of low volume products
• Streamline value stream (product goes to too many factories to complete), which means CapEx investments in specific factories

Margin expansion = cost cutting

Let's see how BB is going to throw smoke screen next earnings call

For years 3M just flexes with the economy. There are no real growth wow products anymore. Too many clueless booksmart marketing types with no street smarts.