Johnson & Johnson to cut production and staff
This article was originally published in Clinica
Executive Summary
Johnson & Johnson is to close nearly a quarter of its manufacturing operations - reducing the number from 158 to 122 - and to cut its workforce by 4%, or 4,100 people, in an attempt to "gain efficiencies, increase productivity and invest in new opportunities". The move will save J&J $250 million to $300 million annually.