3M Forecasts $300 Million Restructuring Charge; 2,900 Jobs to Be Impacted
3M (NYSE: MMM) CEO Mike Roman continues to restructure the company with a view to turning around the company's performance, something that's a key part of the investment case for the stock.
The latest actions, announced today, will lead to a restructuring which will, according to the company, "impact approximately 2,900 positions globally." Roman said that, as a result of its new operating model launched in January, management saw an opportunity to streamline the company for growth.
The changes made in January involved the company's business groups being run globally instead of priorities being set by area and country teams.
Source Fool.com
