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3M Co. will be eliminating jobs as part of a cost-savings plan in response to a slowing economy.
The news was revealed in an internal communication and reported by Bloomberg.
3M suffered a setback just days ago over a key legal strategy designed to mitigate mounting liabilities.
Michael Vale, head of 3M’s safety and industrial division, disclosed the planned cuts in a message to employees of the unit, reviewed by Bloomberg.
3M TO SPIN OFF HEALTH CARE BUSINESS