Economic development officials in Rochester are bracing for major job cuts at Bausch + Lomb's longtime operations in the city.
Quebec-based drugmaker Valeant announced Monday that it will eliminate as much as 15 percent of its workforce and move Bausch + Lomb's headquarters to New Jersey as part of its acquisition of the Rochester-based company.
Bausch + Lomb employs about 1,700 workers at its Rochester headquarters and manufacturing plant. Valeant officials say they plan keep the manufacturing operations in Rochester, but many of the positions at headquarters are expected to be eliminated.
Officials with Greater Rochester Enterprise tell local media outlets that more than 1,000 local jobs could be lost.
Bausch + Lomb, one of the world's best-known makers of contact lenses, was founded in Rochester in 1853.