IDA to assist Bausch + Lomb in upgrading systems

A pharmaceutical company which is in the process of implementing 200 job losses has announced plans to upgrade its production systems with support from the IDA.

Bausch + Lomb secured agreement last week from union members to an €18.5m cost-cutting deal which will see pay cuts, allowance cuts, bonus cuts, a new lower pay grade, extra working time, and less paid sick leave, along with 200 redundancies at its Waterford plant.

Yesterday, the company announced plans to invest in upgraded production systems. The multinational’s vice-president for manufacturing, Angelo Conti, was in Waterford to discuss the investment with management and unions.