3M has initiated a restructuring that will reduce approximately 1,500 positions, spanning all business groups, functions, and geographies.
3M recently reported fourth quarter and full-year 2019 results. For the year, sales declined 1.9% to $32.1 billion, with an organic local currency sales decline of 1.5%. The combination of acquisitions and divestitures increased sales 1.3%. Foreign currency translation decreased sales 1.7%.
In the 2019 fourth quarter, sales grew 2.1% year-on-year to $8.1 billion. Organic local currency sales declined 2.6%, while acquisitions, net of divestitures, increased sales by 5.1%. Foreign currency translation reduced sales by 0.4% year-on-year.