3M Co said on Tuesday it would cut about 6,000 positions globally as the U.S. industrial conglomerate looks to focus on high-growth businesses, including automotive electrification and home improvement.
The move comes as an uncertain economy along with rising interest rates and stubbornly high inflation forces corporate America to get leaner in recent months.
3M, which makes electronic displays for smartphones and tablets, has been struggling with waning demand for consumer electronics as sticky inflation makes buyers cut back on discretionary spending.
The maker of ‘Scotch’ tape and ‘Post-it’ notes has been raising prices to offset a hit from surging commodity costs….