Johnson and Johnson Announces Major Layoffs

NEW BRUNSWICK, N.J. – One of the state’s largest employers announced Tuesday it will be reducing its workforce by some 3,000 people over the next two fiscal years.

Johnson & Johnson, with headquarters in New Brunswick and major facilities in Somerset County, said it would be restructuring its Medical Devices businesses to “better served the needs of customers and patients in today’s evolving healthcare marketplace,” according to a statement.

The changes would result in a savings of $800 million to $1 billion annually, which will be realized by the end of 2018, the company said.

“The company estimates that the actions announced today will result in position eliminations of approximately 4 to 6 percent of the Medical Devices segment’s global workforce over the next two years, subject to any consultation procedures in countries where required,” the statement said.

That figure turns into about 2.5-percent of the entire global workforce, or approximately 3,000 employees, the healthcare giant said.

See more details about the layoffs here.