One of the biggest single private sector employers in the southeast has announced a major investment plan with the creation of 50 jobs.
Earlier this year, employees at Bausch + Lomb had to take pay cuts and there were 200 redundancies.
Bausch + Lomb is part of Valeant Pharmaceuticals, one of the biggest global eye healthcare companies.
In May, the company announced major cutbacks, including 200 job losses from its then workforce of 1,100, pay cuts of around 15% and changes in rosters.
The remaining employees have since implemented substantial change.
Management has now announced plans to invest €41m in manufacturing capacity at its Waterford facility on the IDA industrial estate.
The investment is being supported by the Department of Jobs, Enterprise & Innovation and IDA Ireland.
The company said it should generate 50 additional jobs within the next 18 months and the investment will provide the Waterford facility with the next generation of contact lens manufacturing technology.
