Home Add to Favorite Contact Submit  
           22 October, 2020

Category:  Press » Business


Johnson & Johnson Announces Restructuring Initiatives for Sustainable Growth

         Views: 1998
2009-11-04 04:53:37     
Johnson & Johnson

Johnson & Johnson (NYSE: JNJ) today announced global restructuring initiatives designed to strengthen the company's position as the world's leading global health care company. The company is taking steps to prioritize its innovation efforts around the many growth opportunities in health care and to execute aggressively on bringing key new products to market.

The company's plans are expected to increase its operational efficiency and generate annualized, pre-tax cost savings of $1.4-$1.7 billion when fully implemented in 2011, with $800-$900 million expected to be achieved in 2010. The associated savings will provide additional resources to invest in new growth platforms; ensure the successful launch of its many new products and continued growth of its core businesses; and provide flexibility to adjust to the changed and evolving global environment.

"Johnson & Johnson has long adhered to a broad-based operating model and set of sound management principles that have driven our success," said William C. Weldon, Johnson & Johnson Chairman and Chief Executive Officer. "Today, we are announcing a series of actions and plans designed to ensure that our company remains well-positioned and appropriately structured for sustainable, long-term growth in the health care industry."

The company expects to record an associated pre-tax, restructuring charge in the range of $1.1-$1.3 billion in the fourth quarter of 2009, treated as a special item. The company also confirmed its earnings guidance for full-year 2009 of $4.54 - $4.59 per share, which excludes the impact of special items such as restructuring charges.

Cost savings will be achieved primarily by reducing layers of management, increasing individual spans of control, and simplifying business structures and processes across the company's global operations.

Position eliminations will form only one component of the savings. Weldon said, "These types of changes are difficult under any circumstances, and will have a very personal impact on people who have been dedicated to the mission of Johnson & Johnson. We recognize their contributions to the achievements of our business, and are committed to treating them fairly and with respect throughout this process."

The company said initiatives would be implemented at the operating company levels to be certain the businesses can meet the needs of the customers they serve on a day-to-day basis. The company estimates that position eliminations will be in a range of 6-7 percent of its global workforce, subject to any consultation procedures on these plans in countries where required.

About Johnson & Johnson

Caring for the world, one person at a time...inspires and unites the people of Johnson & Johnson. We embrace research and science - bringing innovative ideas, products and services to advance the health and well-being of people. Our approximately 117,000 employees at more than 250 Johnson & Johnson companies work with partners in health care to touch the lives of over a billion people every day, throughout the world.


Johnson & Johnson will conduct a conference call with financial analysts to discuss this news release today at 9:00 a.m., Eastern Time.

(This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from Johnson & Johnson's expectations and projections. Risks and uncertainties include general industry conditions and competition; economic conditions, such as interest rate and currency exchange rate fluctuations; technological advances and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approvals; domestic and foreign health care reforms and governmental laws and regulations; and trends toward health care cost containment. A further list and description of these risks, uncertainties and other factors can be found in Exhibit 99 of the Company's Annual Report on Form 10-K for the fiscal year ended December 28, 2008. Copies of this Form 10-K, as well as subsequent filings, are available online at website or on request from Johnson & Johnson. Johnson & Johnson does not undertake to update any forward-looking statements as a result of new information or future events or developments.)

Specialized in: Innovative Health Products - Pharmaceutical Companies - Investor Information
URL: http://www.investor.jnj.com
Print press release      Bookmark this page
Related Press releases 
Sales Territory Mapping Company Educates On Sales Territory Management (Popularity: ): Wake Forest, North Carolina ( press.abc-directory.com ) September 1, 2020 - Geographic Enterprises, a sales territory mapping company, has recently released a new educational resource that focuses on how to manage sales territories. The new article can be found on the company's website. The article is guided by the sales mapping company's experience helping provide smart technology that can improve any organization's efforts when planning their efforts and approach to ...
Manassas Window Film Company Lists Benefits Of Exterior Solar Screens (Popularity: ): Manassas, Virginia ( press.abc-directory.com ) August 5, 2020 - Atlantic Sun Control, a Manassas window film company, recently discussed the benefits of exterior solar screens. Atlantic Sun Control has grown from being a home-based business to one of the largest, most experienced window film dealers in the nation. All vital employees are certified by the International Window Film Association, ensuring fully insured jobs for every installation. Atlantic Sun Control currently ...
New Program Introduced for Keeping Home Cooling Systems Running All Summer (Popularity: ): Atlanta, GA - USA | July 31, 2020 -- Spring has sprung, and the weather is finally getting nicer. Beautiful days are upon us, the trees are in bloom, and if it weren’t for the COVID-19 epidemic, we’d be spending a lot more time outside.The seasons change every year, and yet every year, there’s someone whose HVAC system breaks down during the hot summer months because they didn’t get proper ...
New York AC Company Publishes Guide On How To Find A Refrigerant Leak (Popularity: ): Manhattan, New York ( press.abc-directory.com ) July 21, 2020 - Cool Works Co., Inc, a New York AC company, recently released a new informational article that discusses the process on how to find a refrigerant leak. The blog was designed to help educate commercial building managers on how they can identify any leaks as well as how to safeguard against them in the future. The company designed the article to ...
Chantilly Fire Damage Restoration Company Discusses Roof Tarping (Popularity: ): Chantilly, Virginia ( press.abc-directory.com ) July 21, 2020 - A Chantilly fire damage restoration company, Monumental Contractors, recently released a new educational resource on their website regarding roof tarping and why it is important for storm damage restoration procedures. The contractors hope this new article will be used by homeowners and contractors as an informational tool that helps them understand what roof tarping is and how it is used during ...

Press release home snapshot 

Related Business 
Johnson and Johnson Product (Popularity: ): Johnson & Johnson is one of the popular brand for baby products. You can choose perfect Johnson's baby products like baby lotion, baby cream, baby hair oil, baby shampoo, baby powder & baby at lowest price with free shipping in India from Infibeam.com.
Johnson and Johnson Baby Products Online (Popularity: ): Johnson & Johnson is one of the popular brand for baby products. You can choose perfect Johnson's baby products like baby lotion, baby cream, baby hair oil, baby shampoo, baby powder & baby at lowest price with free shipping in India from Infibeam.com.
Johnson and Johnson Racing (Popularity: ): Official site of NHRA Pro Stock racer Allen Johnson and Amoco Racing Dodge Avenger.
The Johnson Languages Institute (Popularity: ): The Johnson Languages Institute was founded as a family business with the aim of connecting cultures. In our globalized world, English and Spanish are necessary tools that allow individuals to achieve personal growth and to succeed in a number of different environments.
Johnson & Johnson Consumer Companies Inc. (Popularity: ): Offers information about their line of babycare products.
Johnson Roofing (Popularity: ): David Johnson started Johnson Roofing & Gutters in 1984 and attributes the company's success to the personal pride he takes in making sure every roof maintains the highest standards of workmanship and will withstand the test of time. Attention to detail and an efficient and dependable crew are the principal hallmarks of our company and our record of customer satisfaction attests to this.
Johnson Family (Popularity: ): Details the exploits of Rick, Kathy, Bryan, Ben, Brett, and Brad Johnson.
Luke Johnson Flooring (Popularity: ): Luke Johnson is a professional and reliable carpet fitting and floor laying company. Based in Berkshire, Newbury Luke Johnson Flooring work with both domestic and Commercial clients and can supply and fit any carpets, Vinyl Flooring, Real Wood, Engineered Wood and more.
Johnson & Johnson (Popularity: ): The world's most comprehensive and broadly-based manufacturer of health care products, as well as a provider of related services.
County Line Kennels (Popularity: ): Breeders of Johnson and Johnson-type dogs. Breeding plans, photographs, and litter announcements. Pineview, Georgia.