Saturday September 19, 2020

Ex Post Facto: Behind the stories

Pearson sharpens blade at Bausch & Lomb

1st June, 2014

The employees at Bausch & Lomb in Waterford, facing 200 redundancies and demands for a 20 per cent pay cut, are the victims of an aggressive corporate culture at Valeant, which bought Bausch & Lomb last year and is following a formula of relentless cost-cutting.

Under chief executive Mike Pearson, who took over Valeant in 2008, the company has followed a formula of mergers and acquisitions, followed by fierce rationalisation.

Pearson, a former senior executive with McKinsey Consultants,...

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