Allergan to Eliminate More than Thousand Jobs as Part of Restructuring

January 5, 2018: By Jon Swedien

Allergan will cut its labor force by more than a thousand positions as part of an internal restructuring plan, the company said in an SEC filing Jan. 3.

The layoffs will include a thousand currently filled positions, impacting employees in commercial and other functions, according to the Dublin-registered firm, which has US operational headquarters in Madison, New Jersey.

Allergan also said it will cut about 400 open positions.

The cost-cutting move comes in anticipation of the loss of exclusivity of several key revenue-generating products in 2018, Allergan said. Among those products is the dry eye drug Restasis.

Allergan expects the restructuring to cost about $125 million, primarily due to severance, the majority of which will be recorded in Q4-2017.

The company estimates the move will save it $300 million to $400 million in 2018.

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