Johnson & Johnson to cut 8,000 jobs

New York - US consumer goods and pharmaceutical company Johnson & Johnson said Tuesday it would cut around 8,000 jobs in a bid to trim costs in the wake of the recession. The lay-offs amount to some 6 per cent to 7 per cent of the company's employees. They are designed to save some 1.7 billion dollars by 2011, the New Brunswick, New Jersey-based company said. One-time costs of up to 1.3 billion dollars will fall in the current quarter.

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Johnson & Johnson to cut 8,000 jobs