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Allergan to slash workforce by 1,500
Allergan to slash workforce by 1,500

Botox maker Allergan Inc. said Monday that it will cut 1,500 employees, most of them in Southern California, in a cost-cutting effort the Irvine company hopes will help it fight off a hostile takeover bid by a Canadian rival. Stung by criticism that it's too fat, Allergan will slash about 650 research-and-development employees, many of them high-paying scientists based in Irvine. The company is also closing facilities in Santa Barbara and Carlsbad, Calif., where a combined 400 employees work. Allergan chief David E.I. Pyott said the cuts will help the company achieve about $475 million in annual savings, boosting profits in the face of an attempted acquisition by Valeant...

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