WHAM13 - Search Results
Bausch & Lomb acquisition now complete
Rochester, N.Y. - Valeant Pharmaceuticals announced Tuesday it has completed its acquisition of Bausch & Lomb.
With that announcement came layoffs at B & L.
A total of 500 workers are being laid off by the company, according to a Valeant spokesperson.
"Everybody is upset, it's an upsetting time," said one Bausch & Lomb worker who did not wish to be identified by name.
In a statement, Valeant said that there are no plans to move current manufacturing in Rochester. "That said, it is never easy to reduce employees and we understand and deeply regret this painful impact that a reduction in a workforce can have on communities and families."
Valeant announced in May that it would buy Bausch and Lomb for $6.8 billion dollars.
"We were feeling like things were doing just great for Bausch and Lomb and we picked ourselves up and we felt really, blessed to be working here," said Sharon Waldnig, a B & L worker. "Then this big company comes in and we just feel that they pulled the carpet out from underneath us all."
Company officials also announced B & L headquarters will be moving from Rochester to New Jersey.
A statement released Tuesday by Valeant reads:
"Valeant Pharmaceuticals is excited about the acquisition of Bausch Lomb and we fully appreciate the strong heritage and brand name recognition the company enjoys around the world. Bausch Lombs U.S. contact lens manufacturing capacity is in Rochester and there are no plans to move current manufacturing lines in Rochester to any other location. That said, it is never easy to reduce employees and we understand and deeply regret the painful impact that a reduction in a workforce can have on communities and families.
In the weeks leading up to this announcement, Valeant has had good conversations with Lt. Governor Robert Duffy, Senator Charles Schumer, Congresswoman Louise Slaughter and Mayor Thomas S. Richards on our vision for the future of manufacturing in Rochester. Whenever possible, we have provided them with as much detail as was available regarding workforce reductions. Their constituents have benefited from their strong advocacy, particularly as it relates to the future of research and development and manufacturing in Rochester.
Bausch Lomb is an important and innovative company and our hope is that under Valeants leadership, we will continue to build upon Bausch Lombs strong heritage."