Johnson & Johnson said Tuesday it will trim layers of management, cut thousands of jobs, and set other restructuring moves in order to save up to $900 million next year.
The New Brunswick, N.J., company said the cuts will affect 6 to 7 percent of its global work force of roughly 118,700 workers, or potentially more than 8,000 jobs.
The layoffs will prompt a restructuring charge of up to $1.3 billion pretax in the fourth quarter. Still, the company confirmed adjusted profit guidance between $4.54 and $4.59 per share for 2009.
