3M to Cut 6,000 Jobs in CEO’s Latest Restructuring Push (3)

3M Co. is cutting another 6,000 jobs as the manufacturer steps up its efforts to pare expenses and turn around its ailing operations.

The reductions, part of an ongoing restructuring, are expected to trim annual costs by as much as $900 million, 3M said in a statement reporting first-quarter earnings. The company has now announced 8,500 total job cuts this year, which would equate to about a 10% decline in its global workforce.

While 3M Chief Executive Officer Mike Roman said in a statement that these actions would further simplify operations and improve profitability, investors mostly shrugged.

The stock rose ...