15:12 ET -- 3M Co. is one of the most mentioned companies in the U.S. across all news items in the last 12 hours, according to Factiva data. The company is cutting 2,500 manufacturing jobs globally and said it expects lower sales and profit in 2023 after demand weakened significantly in late 2022. 3M expects sales will be hurt by weak demand for consumer products and electronic items, particularly smartphones, tablets and televisions, for which 3M provides components. "Consumers sharply cut discretionary spending and retailers adjusted their inventory levels," Chief Executive Mike Roman said during a conference call. Dow Jones & Co. owns Factiva. (josh.beckerman@wsj.com)

 

(END) Dow Jones Newswires

January 24, 2023 15:28 ET (20:28 GMT)

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