This site is intended for health professionals only!

Published on 17 October 2007

Share this story:
Twitter
LinkedIn

J&J blames job cuts charge for fall in profits

teaser

Johnson & Johnson’s third-quarter profits fell about 8% because of a charge for cutting jobs, primarily in its stent-making and pharmaceuticals businesses, the company has said.

The company earned $2.5bn compared with a profit of $2.7bn during the same period last year.

Revenue rose to $14.9bn from $13.2bn, helped by strong results in international markets.

In July, the firm said it would reduce its global workforce by up to 4%, or up to 4,820 jobs, partly in order to cut costs due to falling sales of heart stents, plus looming patent expirations.

Copyright © PA Business 2007

Johnson & Johnson



Most read




Latest Issue

Be in the know
Subscribe to Hospital Pharmacy Europe newsletter and magazine
Share this story:
Twitter
LinkedIn