|
By Chip Brian, SmarTrend Analytics Team
11/3/2009-Johnson & Johnson (NYSE:JNJ) announced it will cut up to 7% of its global workforce in a restructuring plan, for which it will take a Q4 charge of $1.1 billion - $1.3 billion.
J&J expects to see pre-tax annual cost savings of $1.4 billion - $1.7 billion by 2011, by way of "reducing layers of management, increasing individual spans of control, and simplifying business structures and processes across the company's global operations."
Contact Chip Brian
SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.TradeTheTrend.com. Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at www.TradeTheTrend.com/signup.html |