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  • Safi Bello

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

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.

Teva's stunning list of cuts targets 14K jobs, $3B in costs, and plants around the globe - Read More from Fierce Pharma

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