Bausch & Lomb has announced that it is cutting its workforce by approximately 400 mainly temporary positions, 200 of which are located at its plant in Waterford, Ireland.
In a statement released on Wednesday September 20, the contact lens company said that as it has done previously, it will continue to adjust its temporary workforce in Europe and the US to meet changing business conditions, and expects to rehire some temporary employees early next year.
The company said that it had added to its temporary workforce to ramp up the production of its PureVision silicone hydrogel contact lens.
According to a report in the Irish Independent (September 21), the job losses would not affect the 1,400 staff at the plant, with many of those involved being seasonal workers who could be rehired. Last year, the company announced a €42m expansion at Waterford to meet demand for its PureVision lenses, including a 3,000 sqm extension to its existing factory.
B&L added that it was transitioning its contact lens lines, including its one-day products, to newer designs made using more automated, advanced manufacturing technology.
B&L is preparing an application for an additional trading period to complete its 2005 annual report according to documents filed with the Securities and Exchange Commission last week, according to a report in the Rochester Business Journal. Under New York Stock Exchange rules, the NSYE could delist the firm if it does not file the document within six months of the due date. Reasons for the delay were assessing financial and control deficiencies for the fiscal year and an investigation by its audit committee into reserve account entries.