Johnson & Johnson will eliminate 1,000 jobs as part of a restructuring. The Company will shut down factories in Cashel, Ireland, and San German, P.R., and consolidate research and development teams in Fremont, Calif.
The layoffs and closings is part of J&J subsidiary Cordis Corp.'s decision to exit part of the stent business, where it was once a pioneer. The stent is a tube that can open arteries and restore blood flow, allowing patients to avoid more invasive surgery.
Johnson & Johnson is a holding company. The Company and its subsidiaries are engaged in the research and development, manufacture and sale of a range of products in the health care field. It has more than 250 operating companies conducting business worldwide. The Company’s operating companies are organized into three business segments: Consumer, Pharmaceutical and Medical Devices and Diagnostics.
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The Plant Prospector is a weekly e-mail service that identifies national, regional, and local plants and businesses in transition through layoffs, closings, and work force reductions. A reduction in the number of employees is an indication of a current or imminent change in the operations of an enterprise and is invaluable in identifying companies including private firms, small public companies, and subsidiaries of major corporations that are in flux. Plant Prospector is an ideal prospecting tool for firms that provide services to businesses in transition, such as temporary employment agencies and outplacement firms, and for companies whose business may be affected by change, such as suppliers, professional firms, and insurance companies.
Competition in the healthcare market is getting fiercer and fiercer.
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