Wednesday, September 8, 2010
Valeant Sees Deeper Job Cuts
Aliso Viejo-based Valeant Pharmaceuticals is planning deeper cuts, after the firm's merger with Biovail, according to an email released by the firm via a regulatory filing Tuesday. According to Valeant, it now expects to cut 25 percent of its headcount, up from just 20 percent when the deal was announced in June. Valeant said, in that email to employees, that the cuts are part of an effort to apply a low margin operating mindset to a high margin business.