November 3, 2009

J&J: 7,000 Jobs Cut


Bad news from Johnson & Johnson as they take drastic measures to deal with the economic downturn. The latest measure from J&J: 7,000 jobs being cut to offset the losses caused by decreasing consumer spending. Even though, ironically, that decreased consumer spending is due largely to people's jobs being cut.

J&J produces a vast array of over-the-counter drugs, health products, make-up, cosmetics & skin care products, but is now forced to resort to layoffs and add to the unemployment rate as their profits shrink in this economy. A spokesman said: "We want to make sure we can fully capitalize on investments to drive new products, getting to a more normalized spend level."

J&J: 7,000 Jobs Cut
bloomberg

Johnson & Johnson, the world's largest health-products company, will fire more than 7,000 workers as consumers cut spending on items ranging from drugs to skin care amid the global recession. J&J will shrink its 117,000-member workforce by 6 percent to 7 percent..

J&J: 7,000 Jobs Cut

Posted at November 3, 2009 4:16 PM
Comments

I can't believe that such a great company ,one that I have grown up using their products since birth has to let go of so many people, but what can you do? I know this, I will always use your products and let everyone know how great they are ! Thank you Johnson !

Posted by: sandra at November 3, 2009 5:15 PM

Too bad, J&J is a great company. We cant blame the chinese for this. I worked for the company in the past for a total of six years, and i know they are very top heavy. They should also include all those vice-presidents (dime a dozen) and directors (2cents for a dozen),certainly they dont make the contributions they are so well paid for.There must be at least 200 vps at J&J. Let half go and spread the duties over the rest.

Posted by: tony at November 3, 2009 5:49 PM

J&J is panicking like lots of other companies that aren't making whirlwind profits like they were. Don't kid yourself..they're not losing money. I am a current employee of J&J and I still have a job..but I know their situation and they aren't hurting yet by no means. Just another way of saying to the consumer F_ _ k you very much. I've used you all i can.

Posted by: JIM at November 3, 2009 5:55 PM

sounds alot like many companies taking advantage of the economic situation. Still profitable......executives still making boatloads while the avg Joe gets laid off or cut pay/benfits.

Posted by: jd111358 at November 3, 2009 7:35 PM

sounds alot like many companies taking advantage of the economic situation. Still profitable......executives still making boatloads while the avg Joe gets laid off or cut pay/benfits.

Posted by: jd111358 at November 3, 2009 7:35 PM

Post a comment




Remember Me?

(you may use HTML tags for style)