3M Announces Restructuring and Plans to Layoff 1,500 employees

Minnesota's own 3M announced Tuesday that it plans to restructure the company and, in turn, layoff approximately 1,500 employees.

This comes less than a year after the company cut 2,000 jobs. 3M employs approximately 96,000 company-wide.

No mention of where the cuts will effect, the company only says it will global.

3M's sales were down 1.9% year over year.

3M has said the trade tension with China has been a large problem.

The company's stock fell 5.7% on Tuesday following the news.

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