Deals
Allergan Will Cut About 1,500 Jobs in Restructuring
This article is for subscribers only.
Allergan Inc., the drugmaker fending off a takeover by Valeant Pharmaceuticals International Inc., will cut 1,500 jobs and may use the savings for an acquisition, its chief executive officer said.
The job cuts represent about 13 percent of the global workforce for the company best known for its Botox wrinkle remover. Along with other restructuring, the cuts will spur savings of about $475 million in 2015, the Irvine, California-based drugmaker said today in a statement.