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A comment on 3M to cut 2K jobs globally, lowers 2019 profit outlook. Parent comment

Re:3M to cut 2K jobs globally, lowers 2019 profit outlook by dragontamer on Thursday April 25, 2019 @10:31AM (#19748532)
Auto sales significantly slowing. We had a yield inversion event, and now 3M is lowering output.

Things certainly don't look good.

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Re:3M to cut 2K jobs globally, lowers 2019 profit outlook by m0zg on Thursday April 25, 2019 @02:56PM (#19751382)
This is a layoff affecting approximately 2% of their workforce. I don't see why it's even in the news.
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Re:3M to cut 2K jobs globally, lowers 2019 profit outlook by dragontamer on Thursday April 25, 2019 @03:58PM (#19751926)
The drop in profitability is a big deal, which likely caused the 11% instantaneous drop in their stock price.

Big reliable companies like MMM don't usually move 10%+ in a single day. Anything that makes them move this much is definitely a newsworthy event.

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