Israeli Prime Minister Benjamin Netanyahu said his government will do its utmost to blunt the impact of job cuts at Teva Pharmaceutical Industries Ltd. as the debt-saddled company carries out its restructuring plan.
Netanyahu and Finance Minister Moshe Kahlon will meet this week with Teva Chief Executive Officer Kare Schultz to try to minimize the blow to workers, according to an e-mailed statement from the prime ministers office. Netanyahu said he would do everything possible to prevent the closure of local plants and ensure that Teva, based near Tel Aviv, will remain an Israeli company.
Netanyahu stepped in after Schultz announced plans last week to slash 25 percent of Tevas workforce and suspend dividends, aiming to cut $3…
Read the full article at: https://www.bloomberg.com/news/articles/2017-12-17/netanyahu-vows-to-help-buffer-teva-workers-from-turnaround-plan