Siptu members vote in favour of Bausch & Lomb cost-cutting deal

Siptu has called on management of a major pharmaceutical plant to come good on a promise to invest in its future following union members’ decision to accept a controversial cost-cutting deal.

The proposal for the future of Bausch & Lomb in Waterford must also be backed by almost 100 TEEU members, who will vote tomorrow on whether to accept or reject cuts which include core pay being slashed by 7.5 per cent as well as the elimination of bonuses.

The company is also looking to cut 200 jobs. It is offering statutory redundancy of two weeks’ pay per year of service, plus four weeks’ pay for every year, capped at 117 weeks’ salary.

More than 1,100 people are employed at the contact lens manufacturer. The company said almost three weeks ago that it would close the plant unless its cuts were put through.

In a two-day ballot, Siptu voted 563 to 157 in favour of the plan. Siptu sector organiser Alan O’Leary, said last night the proposals were “very difficult” for members but enhanced compensation meant the cuts won’t be felt for some time.

He called on Mike Pearson, chief executive of parent company Valeant Pharmaceuticals, to back the facility's future with investment.