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aking good on a recent promise, Allergan (AGN) disclosed plans to cut 1,000 existing jobs as the company prepares to face generic competition, especially for its second-biggest medicine, the Restasis eye treatment.

The job cuts, which also involve eliminating 400 open positions, are expected to reduce expenses between $300 million and $400 million this year, according to a regulatory filing made on Wednesday. Allergan employs about 18,000 people. Other steps, such as closing buildings, may also occur.

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