|Actavis CEO Brent Saunders|
New-look Actavis--soon to be Allergan--has been undergoing plenty of changes since it agreed in November to shell out $66 billion for the Botox maker. And as it continues to integrate Allergan's ops, it's shaving away at the workforce it inherited from its prior pickup, Forest Labs.
Last week, the company updated its Long Island, NY, jobs toll to 412, with the bulk of those in commercial packaging operations. Forty-seven of the job-cutting total are sales staffers who work remotely, according to a New York state WARN notice.
Actavis ($ACT) first announced the layoffs back in September, and since then it's gotten to work trimming Forest's ranks in other states, too. Last July, it delivered pink slips to 190 workers in Earth City, MO, after deciding to close a facility there. And in December, it said it would cut loose 200 more in Corona, CA, an area that's been part of a gradual drawdown.
What Actavis hasn't yet said, though, is whether, which and when employees will face the ax as a result of its Allergan tie-up. The deal, which added 11,500 staffers to the 25,000 employees Actavis already had, closed this week after clearing its final regulatory hurdle
But word on any forthcoming scale-back could be coming sooner rather than later. The Dublin drugmaker has pledged $1.8 billion in cost savings--the majority of which are due within the next year.
- see the amended WARN notice
Special Report: Pharma's top 10 M&A deals of 2014 - Actavis/Allergan - Actavis/Forest Laboratories | The top 15 pharma companies by 2014 revenue