BAUSCH AND LOMB TO INVEST IN WATERFORD PLANT FOLLOWING JOB CUTS
Bausch and Lomb are to invest in upgrading its production systems in its Waterford facility.
The announcement comes after a recent agreement with staff on a restructuring plan in a bid to keep the plant open. The workforce has been cut by 200 people while remaining staff are to receive pay cuts as well cuts to other benefits.
This investment is supported by the Department of Jobs through IDA Ireland.
Minister for Jobs Richard Bruton has welcomed the announcement saying he will continue to work with Bausch and Lomb to support further investments to secure the future of the plant and position it for future expansion and growth.
Speaking from Shanghai, Minister Bruton said “The process aimed at saving and then securing the long-term future of the Bausch and Lomb facility in Waterford has been going on for many months and involved a coordinated effort from a range of organisations and people, including the IDA, the LRC and my Department”.
“Today’s announcement by Bausch and Lomb that it will invest in upgrading its production systems in its Waterford plant is the latest step in this process” he added.
Alan O’Leary – SIPTU Rep at Bausch and Lomb – says the investment is a major boost for the south-east.
“Today we were looking for the the company -the senior vice-president of Valeant – to reciprocate in terms of investment ion the Waterford plant ans investment in the workforce” he said.
“So the company has decided to invest, which has to be welcomed”.
“Obviously there are certain issues we have to work out with the company in relation to the survival plan and survival agreement – but today is a welcome development for the whole of Waterford city and the south-east region” he added.
