Did you see the TV news on B+L

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The community is bracing for 1000 people being laid-off in Rochester. And for those of you that say the pharma cafe does not post real news here is the video from the TV new story saying that placement agencies in Rochester are planning on a wave of unemployed workers from B+L looking for jobs.

http://www.whec.com/news/stories/s3109837.shtml?cat=565

All of the pharma cafe predictions are dead on. 1000 people and most will have to leave Rochester to find work
 






Bausch + Lomb Inc.

Headquarters: 1400 N. Goodman St., Rochester, N.Y., with its pharmaceutical business based in Madison, N.J., and its surgical business based in Orange County, Calif.

Employees: 12,000 worldwide, including roughly 1,700 in Rochester.

1000 employees laid off in Rochester means greater than 1 out of 2 employees gone in a few weeks. Those left will have their dibs for office space.

It will feel like walking through a ghost town for those left. Tumbleweeds will roll through the swinging doors of the saloon. The whiskey bottles will be coated in dust and you have to blow the dust off before you take your swig. All the pretty girls have left. Left on the last coach to Dodge city. Still the old Sheriff still has to patrol the streets. At the town store there are still some cans of beans for sale. The town folks left are those that are to old or too sick to move on. Left to live their lives in an old dying town.
 






Given the buzz about 1000 people getting laid off in Rochester the early August date for the layoffs may be correct. Obviously the number has already leaked and made it to the local media. Waiting to complete the layoffs does not seem likely as until the layoffs occur productivity will be zero at B+L.
 












I predict at least a reduction of 42% personnel across the remaining sites on average. Lets assume that they save a massive 300 million in SG+A before layoffs (Distribution costs, marketing, etc..) that leaves us with 500 million they still have to cut. The average salary for B+L is 80k and the median is 78k (http://www.salarylist.com/company/Bausch-Lomb-Salary.htm). Taking the 500 million and dividing it by the higher average salary, 80k, gives us a layoff target of 6000. That would reduce B+L's SG+A from the 40s to about the same level as Valeant's target 20. Considering salaries are lower outside of the HQ Admin site in Rochester, I believe the actual number may be higher.
 






I predict at least a reduction of 42% personnel across the remaining sites on average. Lets assume that they save a massive 300 million in SG+A before layoffs (Distribution costs, marketing, etc..) that leaves us with 500 million they still have to cut. The average salary for B+L is 80k and the median is 78k (http://www.salarylist.com/company/Bausch-Lomb-Salary.htm). Taking the 500 million and dividing it by the higher average salary, 80k, gives us a layoff target of 6000. That would reduce B+L's SG+A from the 40s to about the same level as Valeant's target 20. Considering salaries are lower outside of the HQ Admin site in Rochester, I believe the actual number may be higher...
 






I love this thread...not because the news is good, but because there is actual supporting information....

Bravo B&L...keep up the good work (for another week or two that is)
 






Anonymous said:
I predict at least a reduction of 42% personnel across the remaining sites on average. Lets assume that they save a massive 300 million in SG+A before layoffs (Distribution costs, marketing, etc..) that leaves us with 500 million they still have to cut. The average salary for B+L is 80k and the median is 78k (http://). Taking the 500 million and dividing it by the higher average salary, 80k, gives us a layoff target of 6000. That would reduce B+L's SG+A from the 40s to about the same level as Valeant's target 20. Considering salaries are lower outside of the HQ Admin site in Rochester, I believe the actual number may be higher...
Click to expand...

Yes & how many years old is it 2011 & older and it def isn't near right. At least $20k short. Snr Execs on $160k....I don't think so...Homey don't play that! That wouldn't even be their bonus amounts....In saying that, I like your theory. Keep on truckin'
 






The cutbacks will be more than needed as they have to correct the problem of too many overpriced workers.

Two years later they will be hiring again but the salaries will be lower.
 
























Don't forget about their Canadian tax savings by keeping the pathetic home office in Canada. This contributes to the 800 million in savings. House of cards. It will fall. The only question is when.
 






This whole thing makes me sick to my stomach! An American Iconic brand now owned by Canadians. The displacement of hard working people. A business model that doesn't invest into the future of an organization. The numerous lies our own B&L executives told us about B&L going for an IPO. Incredibly heartbreaking. Deal done on an elite golf course amongst greedy bastards. People like Mike Pearson make me sick. Keep donating millions of dollars to your alamater Duke University, while you and your McKinsey hinchmen systematically alter hard working people's lives forever. You call yourself an American? SHAME ON YOU MIKE PEARSON!
 






Anonymous said:
This whole thing makes me sick to my stomach! An American Iconic brand now owned by Canadians. The displacement of hard working people. A business model that doesn't invest into the future of an organization. The numerous lies our own B&L executives told us about B&L going for an IPO. Incredibly heartbreaking. Deal done on an elite golf course amongst greedy bastards. People like Mike Pearson make me sick. Keep donating millions of dollars to your alamater Duke University, while you and your McKinsey hinchmen systematically alter hard working people's lives forever. You call yourself an American? SHAME ON YOU MIKE PEARSON!
Click to expand...

This is an example of the worst of capitalism. If an organization can make a profit it is viable. The cuts Valeant is making go way beyond making an organization profitable. It is more like the Vikings arriving at a village in England taking it over and then stealing all of the spoils to live off the rest of their lives off the goods produced by others. The villagers are left homeless and penniless.
 






























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