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Johnson & Johnson to Cut 8500 Globally

November 3, 2009

Johnson & Johnson (JNJ: 99.73 +0.72%) 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.

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