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.
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 world’s 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 s…
Read the full article at: https://au.news.yahoo.com/a/38277242/teva-pharm-to-unveil-restructuring-plan-on-thursday-report/