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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.

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