3M to cut 2,900 jobs as it restructures

3M Co said on Thursday it would undertake a restructuring that would impact about 2,900 jobs globally.

The company expects to record a pre-tax charge of $250 million to $300 million as a result of the restructuring, it said.

“The COVID-19 pandemic has advanced the pace of change and disrupted end markets around the world, increasing the need for companies to adapt faster,” Chief Executive Mike Roman said.

(Reuters)