Wednesday, November 4, 2009

Big J&J Layoff

Johnson and Johnson has announced that they will lay off 7000 employees. That is about 7% of the employees at the company. How can the economy really be improving with such large job eliminations occurring?

J&J is one of the most admired and diversified health conglomerates with a consumer division, diagnostic/devise equipment, pharmaceutical drugs and R&D arm. Johnson and Johnson is present in 57 Countries around the world.

If a company like J&J is cutting back this much, it shows the economic recovery will be long and hard.


Raymond Bouchayer said...

Never understood the Math ...all the news is the economy is on the rebound . But then more banks are going belly up after being bailed out involuntarily by us . Job loss keeps mounting . Existing one have not raised the salaries for years . To have a growing economy one would think that producing something and paying living wages would be the key . Not laying off more people and sending jobs overseas .

Cary said...

Ugh. I keep getting excited when I see the positive headlines, but yes, companies everywhere continue to cut back. I have so many friends out of work right now that it's disheartening.

Word verf: BARAYER

Missed it by an extra A.

Anonymous said...

J&J is just looks good from the outside. It is not a good environment to work at. In competent people and discrimination agains employees from legacy companies.

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