US manufacturer 3M says to cut 2,000 jobs on slowing demand

US industrial products manufacturer 3M announced Thursday it will cut 2,000 jobs worldwide, citing weakness in key markets that led to a steep decline in first-quarter sales.

3M, which makes a wide variety of industrial goods and tools as well as everyday items such as Post-It notes, also slashed its full-year profit forecast.

The company said sales fell 7.4 percent in Asia Pacific and 9.4 percent in Europe-Middle East-Africa.

3M shares fell sharply in pre-market trading.

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