Headlines Allergan to Cut 1,000+ Jobs Published 3 years ago on January 4, 2018 By INVISION Staff Share Tweet It will also slash 400 unfilled positions. Allergan plc plans to cut more than 1,000 jobs, affecting employees “in commercial and other functions.” The company will also cut 400 currently open positions, according to a filing it made with the U.S. Securities and Exchange Commission. Allergan stated in November that it would undertake a cost cutting and restructuring program to help it meet its 2018 financial goals. The actions come “in response to the anticipated loss of exclusivity of several key revenue-generating products in 2018.” Reuters notes that the job eliminations come as Allergan “works to cut costs in the face of new competition for its second most important drug, dry-eye treatment Restasis.” Advertisement The company expects to incur restructuring costs of about $125 million, mainly due to severance. That amount doesn’t include additional charges related to potential building closures, contract terminations and other items. Expense savings from the restructuring are expected to be in the range of $300 to $400 million as compared to the fiscal year 2017, Allergan stated. Related Topics:Allergan click to Comment(Comment) Up Next De Rigo Names President for North America Don't Miss Opternative Gets a New CEO Advertisement SPONSORED VIDEO SPONSORED BY ESSILOR Introducing EssilorLuxottica 360 A new program powered by Essilor, Luxottica and EyeMed that is designed to help your practice improve traffic, visibility and patient experience while maximizing profitability. Learn More at 360.EssilorLuxottica.com You may like Allergan Announces Updates to Eye Care Optometric Professional Relations Team Allergan Announces REFRESH Concierge Program for ECPs Stay on Top of the Increasing Number of Dry Eye Treatments Promoted Headlines Introducing EssilorLuxottica 360 Essilor American Eyes 2020 — Safilo’s Celebration of U.S. Eye Care Professionals Continues Safilo Introducing C Life by Champion L'Amy Advertisement Latest Trending Videos John Marvin16 hours ago Being Civic-Minded Is Important, but So Is Not Alienating People Press Releases16 hours ago National Leadership Team Development Series Continues Online Tonight The Big survey2 days ago Early Polling in INVISION’s Big Survey Puts One Presidential Nominee On Top By a Narrow Margin Headlines2 days ago FDA Approves Kala’s Eysuvis for Dry Eye Press Releases2 days ago Inspecs and O’Neill Announce License Deal Photo Gallery3 weeks ago Washington Eye Doc Welcomes Autumn … and More Brain Squad Members in Their INVISION T-Shirts Headlines1 week ago Video: Car Crashes Into Optometry Office; 4 Taken to Hospital Photo Gallery1 week ago You Need to See These 28 Head-Turning Ways to Display Frames Headlines3 weeks ago Rocky Mountain University of Health Professions Plans Optometry College Best of the Best3 weeks ago No Qualified Opticians? No Problem. This Oregon Optical Owner Took Matters Into His Own Hands Headlines1 week ago Video: Car Crashes Into Optometry Office; 4 Taken to Hospital Sponsored Content2 months ago Introducing EssilorLuxottica 360 Sponsored Webinars2 months ago Introducing Varilux® Comfort Max Lenses Headlines2 months ago Video: Gandhi’s Eyeglasses Could Fetch $19K+ at Auction INVISION Podcast3 months ago Podcast: Talking with the Finest, Hippest of Them All About Why There are No Ball Point Pens in Her Shop Advertisement SubscribeBULLETINS Get the most important news and business ideas for eyecare professionals every weekday from INVISION. Advertisement Most Popular Headlines1 week ago Video: Car Crashes Into Optometry Office; 4 Taken to Hospital Photo Gallery1 week ago You Need to See These 28 Head-Turning Ways to Display Frames Press Releases1 week ago BVI Acquires Benz Research & Development The Big survey2 days ago Early Polling in INVISION’s Big Survey Puts One Presidential Nominee On Top By a Narrow Margin Press Releases16 hours ago National Leadership Team Development Series Continues Online Tonight Headlines4 days ago Co-Founder of National Optometric Association Dies at 93 Headlines2 days ago FDA Approves Kala’s Eysuvis for Dry Eye Cover Stories3 days ago Is Corporate Optometry the Future of Optometry?