The Province reported that Johnson & Johnson plans to cut about 3,000 jobs over the next two years as the health care conglomerate works to restructure its medical devices business.
According to the report:

The New Brunswick, New Jersey, company said that amounts to more than 2 per cent of its global workforce of around 127,000 people and 4 per cent to 6 per cent of its employee total in medical devices.
The cuts come after a tough year for the healthcare bellwether, which has seen sales of its prescription drugs, devices and consumer medicines squeezed by a weakening global economy and unfavourable currency exchange rates.

In a statement, Gary Pruden, chairman of Johnson & Johnson’s medical device unit, commented:

These actions recognize the changing needs of the global medical device market.

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