Big layoffs coming at 3M

[cloudbase]

6k in the office and 2.5k in manufacturing.

This from a friend who works there. Just ahead of quarterly earnings report.

[Stargazer99]

1. I still think business is up to something by laying off

so many workers...some one needs to check into what they are up to, not only this business but many major businesses..something is afoot

[jimfields33]

2. Yes. Businesses want to cut costs.

It seems tech is the main group right now. A lot probably was due to excess hiring during Covid and now they are cutting back on that.

[Quakerfriend]

3. I think so too!

Could it be that they are anticipating an ~~15% corporate minimum tax in the near future should Biden win reelection??

[louis-t]

4. I'll tell you what they are up to.

The big economic gurus are all saying the economy is in for a recession, home prices are going to collapse. I hear people repeating this every day. They are laying off people "in anticipation" of economic disaster. They are trying to create a situation where the economy DOES collapse. The people with the most money would LOVE for the economy to collapse. That way they can buy another 2 million single family residences at 25 cents on the dollar. As long as people have money in their pockets and are spending it, the economy won't collapse. When big business starts laying people off to increase their profits, the slide will begin. Again.

[geardaddy]

6. I think you've hit the nail on the head. n/t

[TwilightZone]

5. It hit the news a few hours ago.

https://www.cnn.com/2023/04/25/business/3m-layoffs/index.html