First Jobs, Now Travel Hits DePuy Synthes Chopping Block

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WEST CHESTER, PA – After cutting 400 jobs in late June, Johnson & Johnson’s West Chester-based medical device maker DePuy Synthes is now saying goodbye to travel for everyone but its salespeople.

“Despite our progress in so many areas, DePuy Synthes faces short-term challenges to deliver on our 2014 financial commitments and to position us well for 2015,” Vice President of Finance and CFO Pete Batesko III said in a Wall Street Journal report. “In particular, our travel and meetings expenses are growing at an unacceptable and unsustainable rate relative to our revenue growth.”

Major consultants doing more than $50,000 of business with the company are also receiving more scrutiny. The moves continue a two-year-old reorganization effort after DePuy Synthes’ acquisition by J&J for $21.3 billion.

Read more about the latest decision and the economic context surrounding it in the Wall Street Journal here, and refer back to the Chesco Business Today coverage of the job cuts here.

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Top photo credit: angeloangelo via photopin cc

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