Drug-maker Teva set for major layoffs in Israel, US: report

Drug-maker Teva set for major layoffs in Israel, US: reportPharmaceutical giant Teva is preparing to sack thousands of employees in Israel and the United States, including one quarter of its Israeli workforce, a business newspaper said Thursday. Israel-based Teva, the world’s biggest manufacturer of generic drugs, will sack 25 percent of its 6,860 employees in Israel and more than 10 percent of its 10,000-strong workforce in the US, Calcalist daily said. Teva shares in the United States have taken a plunge this year as the company has faced harsh financial woes.



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