By Kannaki Deka
(Reuters) – 3M Co will cut about 6,000 positions globally in a second round of lay-offs this year, as the US industrial conglomerate looks to rein in costs amid waning demand for consumer electronics.
The diversified manufacturer said on Tuesday it will shift its focus to high-growth businesses, including automotive electrification and home improvement, and prioritize emerging growth areas such as climate technology and next-generation consumer electronics.
The job-cut decision 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