Thread regarding 3M layoffs

3M lowers full-year forecast on dollar impact, uncertain economic environment

Oct 25 (Reuters) - U.S. industrial firm 3M Co (MMM.N) on Tuesday cut its full-year revenue and profit forecasts, expecting to take a hit from rising inflation and shrinking overseas earnings due to a stronger dollar.

Shares of the company were down 2.9% before the bell.

"We continue to execute our strategies and deliver for our customers in a highly uncertain environment," 3M Chairman and Chief Executive Officer Mike Roman said in a statement.

https://www.reuters.com/business/retail-consumer/3m-quarterly-revenue-falls-stronger-dollar-impact-divestitures-2022-10-25/

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| 1171 views | | 2 replies (last October 25, 2022) | Reply
Post ID: @OP+1jnHq2vL

2 replies (most recent on top)

Firing and hiring is expensive. On top of that you get toxic environment where you find people talking behind your back. Without unity how you deliver? Looks like 3M haven’t learned any lesson from past 4 year layoffs.

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Post ID: @lee+1jnHq2vL

Still Iosing money despite massive cuts.

Logic suggests more cuts coming soon.

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Post ID: @cft+1jnHq2vL

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