BRIEF-3M would reduce 250 positions worldwide - conf call

Tue Apr 26, 2016 10:49am EDT
 
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April 26 (Reuters) - 3M Co

* "will reduce 250 positions worldwide with majority of reductions on electronics side of business" - conf call

* Estimates q2 charge of $20 million related to job cuts - conf call

* "we continue to benefit from lower commodity prices and global sourcing team's ongoing efforts to reduce costs" -conf call

* Tax expense will increase in last three quarters of the year - conf call

* Expects electronics and energy to decline organically in the low to mid-single-digit range in 2016 - conf call

* Sees organic growth being slightly better for q2 than in q1 - conf call Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)