Johnson & Johnson Firing ~10,000 Employees

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So much for thinking that healthcare is a safe space to be in. Johnson & Johnson (JNJ) is cutting 6-7% of its global workforce, which total 117,000. At the high end, that could be up to 8,000 positions. As noted by CNBC, the move comes on election day in New Jersey, and J&J is one of the state’s biggest employers. That sounds like more bad news for Governor Jon Corzine.

The full announcement is here.

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