Bausch & Lomb Will Make Deeper Cuts

Sat., Jan. 7, 1995

Compiled From Wire Services

Weakened by a sharp drop in profits, eye-wear maker Bausch & Lomb said Friday it is cutting another 400 to 500 jobs at its contact-lens division.

The optics and healthcareproducts company last year eliminated 1,500 jobs. The latest cuts will reduce the number of employees to around 14,000.

Distributors have built up large stocks of Bausch & Lomb sunglasses and contact lenses because of lower-than-expected sales, so the company has cut production to reduce inventories.

In October, the company said its third-quarter earnings plummeted to $7.7 million from $55.8 million a year earlier, and sales sank 10 percent to $49.4 million. Worldwide contact lens revenues declined $35 million, or about 40 percent.

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Bausch & Lomb Will Make Deeper Cuts

Jesse Tinsley

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