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3M to lay off 2,500 manufacturing employees due to slow consumer demand
- On Tuesday, 3M announced that it plans to reduce its manufacturing workforce by 2,500 employees.
- The company's Chief Financial Officer, Monish Patolawala, stated that the decision was due to a slowing in organic sales volume during the first three weeks of January.
- In response, 3M intends to adjust its manufacturing levels and exercise financial discipline until sales volume improves.
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