We will reduce costs at the corporate center by eliminating management layers across the company. We are broadly reducing our corporate shared services, like our central design group. We are reducing rooftops worldwide, including exiting our conference center in northern Minnesota.

Apr 25, 2023 / CEO / receipt, needs a key / Mike Roman, CEO | earnings call 2023-04-25 | transcript a1dec6c4-2ee5-4308-a4ee-94cf0543c51b | chars 3026-3308 | segment 3

Our actions to reduce costs, which included plant spending, external services, travel, and hiring help drive stronger than expected earnings and margins.

Apr 25, 2023 / CEO / receipt, needs a key / Mike Roman, CEO | earnings call 2023-04-25 | transcript a1dec6c4-2ee5-4308-a4ee-94cf0543c51b | chars 8969-9122 | segment 9

So I would boil it down to saying what margin will come down to in the second half and what incrementals are will depend on the volume, will depend on our ability to offset the price, the raw and logistics pressure through price increase. continued productivity and good execution by the 3M team, and then finally our decision on how much we're going to invest in growth, productivity, and sustainability, plus a lot of these indirects that start snapping back as hopefully people start traveling. You've seen we've been very disciplined in the first half of making sure that we didn't spend ahead of what volumes come back. But as we see volumes coming back in, you're going to see those indirects start snapping back up.

Jul 27, 2021 / CEO / receipt, needs a key / Mike Roman, CEO | earnings call 2021-07-27 | transcript 73e4746c-b4a9-4f21-8342-b95222cdb926 | chars 50919-51641 | segment 52

The first and the biggest component is things what we internal to 3M called indirect costs, things that are not payroll or raw material costs related. So travel, external services, temporary workers, targeted ad merch, things like that. We are working on bringing that spending down in line with what we're seeing happen in the external market.

Apr 28, 2020 / CEO / receipt, needs a key / Mike Roman, CEO | earnings call 2020-04-28 | transcript a0e0d598-89d5-436b-8886-36834732a7e0 | chars 30036-30380 | segment 31