J&J to Cut Global Workforce to Focus on New Products

Johnson & Johnson (J&J) is planning to eliminate as many as 7,000 to 8,000 jobs worldwide by 2011 as part of a reorganization plan focused on bringing new products to market. The positions to be reduced represent about 6 percent to 7 percent of the company’s workforce, spokeswoman Carol Goodrich said. The move is expected to save the company $1.4 billion to $1.7 billion when fully implemented in 2011, with $800 million to $900 million of that savings occurring next year, the company says in a statement.
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