8,000 employees face axe as J&J cuts costs
This article was originally published in Scrip
Executive Summary
Around 6-7% of Johnson & Johnson's 117,000-strong global workforce will be cut in a new round of restructuring aimed at saving $1.4-1.7 billion in annual costs. Although the staff reduction is still an estimate, it is likely to affect around 7,000-8,200 jobs and will form the major part of the cost savings.