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Teva Pharm to unveil restructuring plan on Thursday: report – Reuters

TEL AVIV (Reuters) – Israel-based Teva Pharmaceutical Industries will unveil a restructuring plan on Thursday that will include layoffs, the Calcalist financial news website said on Wednesday.

FILE PHOTO: The logo of Teva Pharmaceutical Industries, the world’s biggest generic drugmaker and Israel’s largest company, is seen in Jerusalem February 8, 2017. REUTERS/Ronen Zvulun/File Photo

The plan includes closing its research and development center in the coastal city of Netanya, selling its logistics center in Shoham and laying off a third of its 6,800 workers in Israel, Calcalist said, citing people familiar with the matter.

A spokeswoman for Teva declined to comment.

Teva, the worlds largest generic drug maker, employs more than 56,000…

Read the full article at: https://www.reuters.com/article/us-teva-pharm-ind-restructuring/teva-pharm-to-unveil-restructuring-plan-on-thursday-report-idUSKBN1E70R1

Category: RestructuringBy Insolvency GuardianDecember 13, 2017

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Teva Pharm to unveil restructuring plan on Thursday – report – Reuters

TEL AVIV, Dec 13 (Reuters) – Israel-based Teva Pharmaceutical Industries will unveil a restructuring plan on Thursday that will include layoffs, the Calcalist financial news website said on Wednesday.

The plan includes closing its research and development centre in the coastal city of Netanya, selling its logistics centre in Shoham and laying off a third of its 6,800 workers in Israel, Calcalist said, citing people familiar with the matter.

A spokeswoman for Teva declined to comment.

Teva, the worlds largest generic drug maker, employs more than 56,000 people. Last week, Bloomberg reported that the firm was considering cutting up to 10,000 jobs to reduce costs by $1.5 billion to $2 billion in the next two years.

Teva said on Tuesday that…

Read the full article at: https://www.reuters.com/article/teva-pharm-ind-restructuring/teva-pharm-to-unveil-restructuring-plan-on-thursday-report-idUSL8N1OD182

Category: RestructuringBy Insolvency GuardianDecember 13, 2017

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