Johnson & Johnson said it plans to cut about 3,000 jobs from its medical devices business.
The NJ-based drugmaker's planned layoffs comprise about 2.5% of the company's global workforce and up to 6% of its medical device segment.
The announcement was made along with a restructuring plan which J&J estimates will save as much as $1 billion a year by the end of 2018 for the struggling medical-devices business.
J&J has not specified the geographical areas for the job cuts.
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