arset="UTF-8" /> J&J to cut 3,000 jobs in medical devices division | Canyon Health
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A first aid kit made by Johnson & Johnson for sale on a store shelf in Westminster(Reuters) – Healthcare conglomerate Johnson & Johnson said it would cut about 3,000 jobs within its medical devices division, or between 4 percent and 6 percent of the unit’s global workforce, over the next two years. Leerink analysts said the announcement meant that an acquisition was still on the cards for J&J, given that it had about $37 billion in cash as of the end of the third quarter. “We continue to believe JNJ is an active acquirer with a focus likely heavily weighted toward it’s lagging Medical Devices business…it’s a matter of when, not if, JNJ does a deal”, they wrote in a note.

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