3M to Cut 6,000 Positions Globally to Improve Cash Flow

3M to Cut 6,000 Positions Globally to Improve Cash Flow
The company logo and trading information for 3M is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York on Nov. 29, 2022. Brendan McDermid/Reuters
Reuters
Updated:
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3M Co. said on Tuesday it would cut about 6,000 positions globally as the U.S. industrial conglomerate looks to focus on high-growth businesses, including automotive electrification and home improvement.

The move comes as an uncertain economy along with rising interest rates and stubbornly high inflation forces corporate America to get leaner in recent months.