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J&J to slash 7,000 to 8,000 jobs
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J&J to slash 7,000 to 8,000 jobs
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ArmyVet64
Regular Contributor
Posts: 307
Registered: 09-27-2009
Message 1 of 10
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The Administration and the mainstream media has been claiming that the Recession is over. Hmmmm, I guess not. NEW YORK — Johnson & Johnson plans to cut up to 7 percent of its workforce in order to generate cost savings needed to finance increasingly costly drug research and to weather future challenges, the diversified healthcare company said on Tuesday. More at http://www.comcast.net/articles/finance/20091103/BUSINESS-US-JOHNSONANDJOHNSON/ |
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11-03-2009 01:39 PM
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Re: J&J to slash 7,000 to 8,000 jobs
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surgeprotector
Frequent Contributor
Posts: 3859
Registered: 01-29-2008
Message 2 of 10
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its obamas fault youre not buying glasses. hey, my firm hired a few people today, does that negate your negativity?
"Please note that signatures should not be used as a means to bash others."
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11-03-2009 01:42 PM
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Re: J&J to slash 7,000 to 8,000 jobs
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Treborleeks
Frequent Contributor
Posts: 1771
Registered: 04-26-2008
Message 3 of 10
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Didn't the Obama / Pelosi health plan just promise to raise taxes on drug manufacturers? Coincidence, I think not.
ArmyVet64 wrote: The Administration and the mainstream media has been claiming that the Recession is over. Hmmmm, I guess not. NEW YORK — Johnson & Johnson plans to cut up to 7 percent of its workforce in order to generate cost savings needed to finance increasingly costly drug research and to weather future challenges, the diversified healthcare company said on Tuesday. More at http://www.comcast.net/articles/finance/20091103/BUSINESS-US-JOHNSONANDJOHNSON/
"It is a paradoxical truth that tax rates are too high today and tax revenues are too low, and the soundest way to raise the revenue in the long run is to cut the rates now." John F. Kennedy
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11-03-2009 01:42 PM
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Re: J&J to slash 7,000 to 8,000 jobs
[ Edited ]
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Treborleeks
Frequent Contributor
Posts: 1771
Registered: 04-26-2008
Message 4 of 10
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Is your resume` in order? Has your boss asked to see you at the end of the day? Are they asking you to train any of the new hires? edited for spelling errors.
surgeprotector wrote: its obamas fault youre not buying glasses. hey, my firm hired a few people today, does that negate your negativity?
Message Edited by Treborleeks on 11-03-2009 01:44 PM
"It is a paradoxical truth that tax rates are too high today and tax revenues are too low, and the soundest way to raise the revenue in the long run is to cut the rates now." John F. Kennedy
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11-03-2009 01:43 PM
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Re: J&J to slash 7,000 to 8,000 jobs
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DoctorTom
Contributor
Posts: 87
Registered: 10-08-2009
Message 5 of 10
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Want to bet that the top executives at Johnson & Johnsonwill: A. cut the employees B. then turn around and claim they've made the company more productive, C. and demand huge bonuses for their efforts? That's the way today's corporate executives "improve" the financial perormance of their companies so they can reap huge bonuses.
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11-03-2009 02:14 PM
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Re: J&J to slash 7,000 to 8,000 jobs
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ArmyVet64
Regular Contributor
Posts: 307
Registered: 09-27-2009
Message 6 of 10
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Hmmmm, sounds like Jon Corzine at Goldman Sachs. Isn't he running for some sort of political office today? Do you really trust this guy?
DoctorTom wrote: Want to bet that the top executives at Johnson & Johnsonwill: A. cut the employees B. then turn around and claim they've made the company more productive, C. and demand huge bonuses for their efforts? That's the way today's corporate executives "improve" the financial perormance of their companies so they can reap huge bonuses.
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11-03-2009 02:25 PM
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Re: J&J to slash 7,000 to 8,000 jobs
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Treborleeks
Frequent Contributor
Posts: 1771
Registered: 04-26-2008
Message 7 of 10
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I'm going to vote my shares for management if they increase my dividend. "Greed is right, greed works. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. Greed, in all of its forms; greed for life, for money, for love, knowledge has marked the upward surge of mankind."
DoctorTom wrote: Want to bet that the top executives at Johnson & Johnsonwill: A. cut the employees B. then turn around and claim they've made the company more productive, C. and demand huge bonuses for their efforts? That's the way today's corporate executives "improve" the financial perormance of their companies so they can reap huge bonuses.
"It is a paradoxical truth that tax rates are too high today and tax revenues are too low, and the soundest way to raise the revenue in the long run is to cut the rates now." John F. Kennedy
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11-03-2009 02:31 PM
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Re: J&J to slash 7,000 to 8,000 jobs
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CATB
Frequent Contributor
Posts: 4189
Registered: 03-28-2007
Message 8 of 10
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Obama and co. will claim that they saved the remaining 93%! Pay no attention to those who lost their jobs! 
ArmyVet64 wrote: The Administration and the mainstream media has been claiming that the Recession is over. Hmmmm, I guess not. NEW YORK — Johnson & Johnson plans to cut up to 7 percent of its workforce in order to generate cost savings needed to finance increasingly costly drug research and to weather future challenges, the diversified healthcare company said on Tuesday. More at http://www.comcast.net/articles/finance/20091103/BUSINESS-US-JOHNSONANDJOHNSON/
Some Americans got so tired of being thought of as stupid by the rest of the world that they went to the polls last November and removed all doubt.
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11-03-2009 02:33 PM
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Re: J&J to slash 7,000 to 8,000 jobs
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Betterdaysahead
Veteran Contributor
Posts: 6774
Registered: 01-21-2008
Message 9 of 10
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Johnson & Johnson, like other companies, has been cutting jobs for years. Seems some han't noticed previous announcements, like this one: Seems that some haven't been listening to what the administration and most economists have been saying about the economy for the past couple of years. While the Republicans were telling us the "economy is sound" they were correctly predicting that it was in bad shape and it would take years to recover from the economic collapse last year.
"Lead, follow, or get out of the way." - Thomas Paine
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11-03-2009 02:37 PM
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Re: J&J to slash 7,000 to 8,000 jobs
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godolphins
Frequent Contributor
Posts: 1567
Registered: 04-10-2007
Message 10 of 10
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The main function of any company is to make a profit so they can stay in business. The fact that J&J is laying off employees in this economy is certainly no surprise. The management of the company is responsible for maintaining a profitable business model not matter how the economy is performing. Obviously right now they have determined that a reduction in their workforce is needed to maintain their business within the profitable standards required by their stockholders. This is the job of all management teams who are in control of publicly owned companies. Many people on here don't want to hear it but the fact is that the management of these companies work at the discretion of the stockholders, not the workers. That is the way Capitalism works. When the economy turns around and J&J can afford to do so. I am sure they will hire employees to fill any new job vacancies they may have due to an improving economy.
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11-03-2009 03:06 PM
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