Bausch & Lomb to cut 1,900 jobs under worldwide restructuring plan.
This article was originally published in The Gray Sheet
Executive Summary
BAUSCH & LOMB PREDICTS $100 MIL. IN SAVINGS FROM RESTRUCTURING PLAN that includes a 13% net reduction in the company's workforce through lay-offs of 1,700 employees by 1999. Although 1,900 positions are targeted for elimination under the plan announced April 23, the streamlining initiative is expected to create approximately 200 new manufacturing positions in the firm's contact lens business. B&L plans to fill these positions with employees affected by the restructuring.