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The budget cuts….

Discussion in 'Ethicon Device' started by anonymous, Sep 9, 2022 at 11:03 AM.

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  1. anonymous

    anonymous Guest

    Where did the budget cuts really stem from? Did Ethicon US overpromise and under deliver? Was leadership unable to predict the staffing and covid-related drop in procedure volume? If so that seems like a huge miss as I could have told you that a long time ago.
    Are all of the operating companies currently dealing with budget restrictions? Pharma, joint recon, trauma, vision, BWI? I’m curious to hear what you have heard if you talk to other JJ employees.
     

  2. anonymous

    anonymous Guest

    Budget cuts first…..layoffs next
     
  3. anonymous

    anonymous Guest

    they stemmed from two main things: 1) operations based production costs and 2) Chinas lockdown crush foreign sales. Also a strong dollar hammered our bank roll as we hold a lot accounts receivable in foreign currency.