israel drug giant teva announces 14000 job cuts over two years
Last Updated : GMT 06:49:16
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Last Updated : GMT 06:49:16
Arab Today, arab today

Israel drug giant Teva announces 14,000 job cuts over two years

Arab Today, arab today

Arab Today, arab today Israel drug giant Teva announces 14,000 job cuts over two years

Israeli pharmaceutical giant Teva
Jerusalem - Arab Today

Israeli pharmaceutical giant Teva announced Thursday it plans 14,000 job cuts over two years as it unveiled a wide-reaching restructuring plan after facing low prices for generic drugs.

Teva also said it was suspending dividends on ordinary shares and its annual bonus for 2017 will not be paid "due to the fact that the company's financial results are significantly below our original guidance for the year," it said.

The job cuts will amount to more than 25 percent of Teva's global workforce, it said in a statement.

Source:AFP

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