Johnson & Johnson Cutting 8000 Jobs

Consumer health giant Johnson & Johnsonannounced today that it is cutting 8000 jobs worldwide as part of a cost saving plan. The cuts represet six to seven percent of its total workforce. The company, which is based in New Jersey, has not yet provided specifics on where the job cuts will take place but they are targeted at eliminating layers of management.

Johnson & Johnson was founded in 1886 and employs nearly 120,000 people around the world.