3M Co (NEOE:MMMM)

C$ 21.11 0.14 (0.67%) Market Cap: 102.05 Bil Enterprise Value: 111.48 Bil PE Ratio: 16.60 PB Ratio: 15.41 GF Score: 45/100

3M Co at Goldman Sachs Industrials and Materials Conference Transcript

May 15, 2019 / 01:45PM GMT

Transcript

Joseph Alfred Ritchie

Goldman Sachs Group Inc., Research Division - VP & Lead Multi-Industry Analyst

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Good to have you here today. Nick is going to kick it off with some opening comments, and then we'll get toâ¦

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Nicholas C. Gangestad

3M Company - Senior VP & CFO

Great. Thanks, everyone, for being here, and Joe, thanks for hosting us. I'd like to cover a few topics before we jump into the Q&A. And as a reminder, here is our forward-looking statement regarding this presentation.

So in first quarter, we faced some near term challenges -- challenging quarter and as we discussed in our first quarter earnings call, we're moving quickly to strengthen our performance and address the challenges that we're facing. And these are the actions that have been and are underway in 3M. First, we are reducing approximately 2,000 positions in our company through both voluntary and involuntary actions, and these reductions span all business groups, functions and geographies with an emphasis on

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