“VERY BAD NEWS.”
That was the verdict of SIPTU on the announcement yesterday that Bausch and Lomb plan to cut 200 jobs in Waterford.
The union said that it is asking for a meeting with the company over both these cuts and threats of a 20% pay cut to the salaries of remaining staff.
It is understood that there will be a meeting between management, staff and union representatives on Tuesday.
SIPTU’s Alan O’Leary said that he hasn’t given up hope of retaining some of the 200 jobs due to be axed:
Each and every job saved is a household spared the considerable financial worry and concern associated with losing employment.
Bausch and Lomb were sold to Valeant Pharmaceuticals, based in Canada, for €8.7bn last year. It was warned last year that up to 15% of B&L’s global workforce would be cut under plans by their new bosses at Valeant.
Bloomberg reported in March of this year that the CEO of Valeant, Mike Pearson, was examing B&L’s structure which he felt had “fat, lots of costs that we can take out”.
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