Pharmaceutical giant Teva to lay off 7,000 after $6b in losses last quarter

The Israeli pharmaceutical giant Teva reports it took a $6 billion loss in the second quarter of 2017 and will be closing 15 factories and laying off some 7,000 workers worldwide.

Some 350 of those workers are in Israel.

Teva’s stock drops 10 percent on the New York Stock Exchange and 11% on the Tel Aviv Stock Exchange following the announcement to shareholders.

Most Popular
If you’d like to comment, join
The Times of Israel Community.
Join The Times of Israel Community
Commenting is available for paying members of The Times of Israel Community only. Please join our Community to comment and enjoy other Community benefits.
Please use the following structure: example@domain.com
Confirm Mail
Thank you! Now check your email
You are now a member of The Times of Israel Community! We sent you an email with a login link to . Once you're set up, you can start enjoying Community benefits and commenting.