Healthy Skepticism Library item: 7187

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Publication type: news

Tarbous K.
J&J to slash 160 corporate positions: Reductions coming at various levels
Home News Tribune Online 2006 Nov 21
http://www.thnt.com/apps/pbcs.dll/article?AID=/20061121/NEWS/611210421/1001

Abstract:

Johnson & Johnson will eliminate about 160 positions at its corporate headquarters, a J&J spokesman said yesterday.

The job cuts, at varying levels from support staff to management, are being made in a restructuring of departments serving the pharmaceutical, medical-device and consumer-product giant’s 200-plus operating companies, said corporate spokesman Marc Monseau.

“Every effort is being made to help employees whose positions have been eliminated identify opportunities within the Johnson and Johnson family of companies,” Monseau said.

The timing of the jobs cuts and the number of employees who would lose their jobs rather than transfer was not available yesterday, he said.

The departmental reorganization is part of J&J’s ongoing effort to streamline processes and improve efficiencies at headquarters, Monseau said.

J&J, founded in New Brunswick in 1886, has 115,700 employees at more than 230 operating companies worldwide, according to the company Web site.

Worldwide sales in 2005 were $50.5 billion with sales increasing every year for 73 consecutive years; 2005 net earnings were $10.5 billion, according to J&J.

J&J shareholders have received dividends every quarter since 1944, and dividends have been raised each of the past 44 consecutive years.