Allergan – To cut about 1,500 jobs

Allergan Inc., the maker of the wrinkle remover Botox, will cut 1,500 jobs and eliminate another 250 vacant positions as it tries to fend off a hostile takeover from Valeant Pharmaceuticals International Inc.

The job cuts, representing 13 percent of Allergan’s global workforce, and further restructuring will lead to savings of about $475 million next year, the Irvine, California-based company said in a statement today.

Chosen excerpts by Job Market Monitor. Read the whole story at  Allergan to cut about 1,500 jobs to evade Valeant takeover – LA Times.