3M Co. said Tuesday it will cut 2,500 manufacturing jobs worldwide after reporting slower sales for the fourth quarter and missing profit targets., or 98 cents a share, down from $1.34 billion, or $2.31 a share, a year earlier. Excluding one-time items — including charges related to its phaseout of so-called"forever chemicals" — the company posted adjusted earnings of $2.28 per share.Sales fell 6% to $8.08 billion, ahead of analyst targets of $8.
3M expects 2023 sales to be 2% to 6% lower, weighed down by market exits, lower sales of face masks and currency effects. Adjusted earnings are predicted in the range of $8.50 to $9.00 per share, versus $9.88 per share on a comparable basis for 2022.
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