Johnson & Johnson sets restructuring, plans charge

November 03, 2009

Johnson & Johnson says it will trim layers of management and set other restructuring moves in order to save up to $900 million next year.

The New Brunswick, N.J., company says the job cuts will affect 6 to 7 percent of its global work force of roughly 118,700 workers.

The company is booking a restructuring charge of up to $1.3 billion pretax in the fourth quarter and confirms its adjusted profit guidance for 2009.

Johnson & Johnson says it will also simplify its business structure in order to achieve savings.

The company, the world's most diversified health-products maker, saw its revenue fall 5 percent in the third quarter as intensifying generic competition slashed sales of about a half-dozen of its prescription drugs.

Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Back to Main Menu

Home | Firm Overview | Practice Areas | News & Information | Attorney Biographies | Internet Resources | Contact Information

The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation.

Copyright © 2009 Lind, Lawrence & Ottenhoff, LLP. All rights reserved. You may reproduce materials available at this site for your own personal use and for non-commercial distribution. All copies must include this copyright statement.