The cuts target J&J’s orthopedics, surgical and cardiovascular device operations. The company has yet to announce plans regarding specific product rollbacks.
Company officials believe the cuts will allow J&J to focus on product innovation and business diversification. “The savings will help us grow our [device] business,” J&J spokesman Ernie Knewitz told Reuters. “That could involve acquisitions, but it will also involve investing in our own internal programs.”
Medical device sales plummeted 10.4 percent within the fist nine months of 2015, making the division J&J’s poorest performing segment.
New Brunswick, N.J.-based J&J employs about 60,000 individuals within its medical devices unit. The job cuts represent almost 6 percent of the division.
The company expects to post fourth quarter results on Jan. 26, according to the article.
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