Hot on the heels of AZ's news comes this.
Johnson & Johnson said Tuesday it would reduce its global work force by up to 4 percent, or up to 4,820 jobs, to cut costs due to a slump in sales of its heart stents and its No. 2 drug, plus coming patent expirations for key drugs.
The health care giant, which employs about 120,500 people in 57 countries, said the restructuring - its largest ever - would bring pretax charges of $550 million to $750 million later this year, as well as other, unspecified steps besides job cuts.
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