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MarketScreener Homepage  >  Equities  >  Nyse  >  3M Company    MMM

3M COMPANY

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3M : to Cut 2,000 Jobs in Restructuring After Disappointing 1Q

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04/25/2019 | 07:08am EDT

By Colin Kellaher

3M Co. (MMM) on Thursday said it will cut about 2,000 jobs as part of a global restructuring after the company posted disappointing first-quarter results and slashed its full-year earnings guidance.

The St. Paul, Minn., manufacturing and technology giant said it expects annual pretax savings of $225 million to $250 million, including $100 million in 2019.

3M said it expects to post a pretax charge of roughly $150 million related to the actions, which will span all business groups, functions and geographies, with emphasis on corporate structure and underperforming areas of its portfolio.

3M last month said it would reduce its number of business segments to four from five in a realignment aimed at boosting customer focus and productivity.

Write to Colin Kellaher at colin.kellaher@wsj.com

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Financials (USD)
Sales 2019 32 502 M
EBIT 2019 7 218 M
Net income 2019 4 801 M
Debt 2019 13 231 M
Yield 2019 3,40%
P/E ratio 2019 20,5x
P/E ratio 2020 16,7x
EV / Sales2019 3,36x
EV / Sales2020 3,22x
Capitalization 95 934 M
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Technical analysis trends 3M COMPANY
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Mean consensus HOLD
Number of Analysts 18
Average target price 175,44  $
Last Close Price 166,76  $
Spread / Highest target 18,1%
Spread / Average Target 5,20%
Spread / Lowest Target -16,0%
EPS Revisions
Managers
NameTitle
Michael F. Roman Chief Executive Officer & Director
Inge G. Thulin Executive Chairman
Julie L. Bushman Executive Vice President-International Operations
Nicholas C. Gangestad Chief Financial Officer & Senior Vice President
Eric D. Hammes Senior Vice President-Information Technology
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