Bausch+Lomb confirms Waterford cost cutting

Contact lens manufacturer Bausch+Lomb has informed staff at its Waterford plant in Ireland that substantial cost cutting must be carried out if the facility is to remain open.

A consultation process began earlier this week, which the company said would aim to bring the cost base of running the Irish plant closer to that of its facility in Rochester, New York – where wage rates were said to be 30 per cent lower.

As reported last week, 200 of the plants 1100 jobs are set to be cut as a result of what the firm said was a group-wide review of the contact lens business. A 20 per cent reduction in wages was also outlined. A decision on the consultation process was expected to be made in principle by June 17.