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BAUSCH & LOMB STREAMLINING EFFORT INCLUDES ELIMINATION OF 1,500 POSITIONS

This article was originally published in The Tan Sheet

Executive Summary

BAUSCH & LOMB STREAMLINING EFFORT INCLUDES ELIMINATION OF 1,500 POSITIONS, two-thirds of which are in the firm's contact lens and sunglass businesses. The remaining cuts will come from among B&L's other product areas, which include OTC drugs, ophthalmic pharmaceuticals, skin care products, dental implants and sports optics. Representing about 10% of B&L's worldwide work force of 15,900 employees as of January, the reduction in employment started earlier this year and is expected to be nearly completed by the end of the third quarter.

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