November 3, 2009
Johnson & Johnson (JNJ: 106.19 +0.29%) announced that it will be cutting about 7%, or about 8500 of its global workforce. The company has tentacles everywhere, so the cuts most likely won’t hit one market particularly hard, but nonetheless underscores some of the weakness in the sector.
Two weeks ago, Pfizer announced that it had laid off about 11,200 employees, and plans for more cuts.
- Adobe to Cut 600; Yahoo Layoffs Next Week
- Sony, Novellus Announce Layoffs
- Silicon Valley Layoff Announcements
- Bank of America Announces Job Cuts; 35,000 Over Next 3 Years
- KLA-Tencor Announces Layoffs; 10% of Workforce