Job Losses To Come At Ciba Unit In Germany
Swiss pharmaceutical company Ciba has confirmed a report that its ophthalmic unit Ciba Vision is to make 250 job cuts next year in Germany, where it has a workforce of 500, according to the Wall Street Journal.
The unit recently acquired the ophthalmic pharmaceutical product line of Iolab, a subsidiary of the US company Johnson & Johnson (Marketletter August 22).
The key reason for the layoffs is understood to be increasing price competition in the contact lens market, which has been brought about by the introduction of new technology.
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