Valeant to cut staff with Bausch + Lomb buyout

Upon completion of Valeant’s $8.7 billion buyout of Bausch + Lomb, the new organizational design is expected to reduce the workforce by 10% to 15% across the newly combined company, according to a letter to workers from Valeant CEO J. Michael Pearson. The letter was also filed with the U.S. Securities and Exchange Commission.Worldwide, Bausch + Lomb employs approximately 11,000 people, while Valeant employs approximately 7,500, according to their respective websites.

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