3m co. - MMM

3M has tapped Bill Brown as its next CEO, betting on an outsider to steer the company through a period of slowing sales and the fallout of multiple lawsuits.

Minnesota-based chemicals manufacturer 3M has reached a $10.3 billion agreement to settle lawsuits over contaminated U.S. drinking water systems.

The workforce reductions are in addition to the 2,500 manufacturing jobs the company said it would eliminate in January. 3M had 92,000 employees at the end of 2022.

An Army veteran who claimed earplugs made by tech giant 3M caused him to suffer hearing damage was awarded $50 million by a federal jury Friday, the second-largest verdict related to the product, which has been the subject of hundreds of lawsuits.

3M Co. lost the first lawsuit to go to trial over the safety of earplugs it sold for years to the military, with a federal jury Friday awarding $7.1 million to three veterans and finding the company failed to warn about defects in the product.