[m0zg]

This is a layoff affecting approximately 2% of their workforce. I don't see why it's even in the news.

[dragontamer]

The drop in profitability is a big deal, which likely caused the 11% instantaneous drop in their stock price.

Big reliable companies like MMM don't usually move 10%+ in a single day. Anything that makes them move this much is definitely a newsworthy event.