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Teva's stunning list of cuts targets 14K jobs, $3B in costs, and plants around the globe

December 14, 2017

Fierce Pharma --------- Teva’s layoffs and cost cuts are here—and they're far larger than reports predicted. The company said Thursday it would slash its headcount by 14,000, eliminating more than 25% of its worldwide workforce. That's 4,000 more than the most dire scenario raised ahead of the announcement. It's aiming to cut $3 billion from its annual costs, $1 billion more than analysts had discussed. And the ax will fall swiftly, with the majority of job cuts coming in 2018; most of the affected employees will receive notice over the next 90 days, Teva said. Meanwhile, manufacturing plants, R&D facilities and offices around the world will shut down or be sold. To learn more click on the picture below to read the article.

 

 

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