Bausch + Lomb workers face €6k cuts to basic pay

Staff at Bausch + Lomb are facing average cuts of €6,000 to their basic pay under the cost-cutting plan announced by the company.

Siptu represents a number of workers at the firm and said recent Ibec figures showed average basic pay rate in the Waterford plant is €29,000. That increases to €39,000 when shift premiums are factored in.

Canadian drug giant Valeant bought the Bausch + Lomb parent group in an $8.7bn deal last year. On Thursday, the company announced plans to reduce its 1,110-plus workforce in Waterford by 200. Remaining staff would then be subject to a 20% pay cut.