This is one effort to cut costs coming from Johnson & Johnson.With 8,000 people losing jobs from this cut off.In the other hand, Johnson & Johnson will save about $800 million to $900 million next year and also $1.4 billion to $1.7 billion annually after the restructuring is complete in 2011.That was really a big amount to take serious considerations.
As for shares, Johnson & Johnson confirmed its profit guidance excluding charges of between $4.54 and $4.59 per share for 2009. Analysts surveyed by Thomson Reuters forecast, on average, an annual profit of $4.58 per share.Well, the cut off doesn’t look bad after all.Of course in view of Johnson & Johnson company.However, over employee of Johnson & Johnson will be a very big issue since there will be a 6 to 7 percent of its global work force of roughly 118,700 workers.
