From Teva to shut Petah Tikva R&D center, fire most workers
Add ToI as a Preferred Source on GoogleTeva workers say they have been informed that a research and development center in Petah Tikva will be the first facility shuttered by the pharma giant, as part of a large restructuring scheme.
Seventy-five percent of the workers at the center will be laid off, according to reports.
Teva plans to fire some 1,700 workers in Israel in the next two years and shut a number of facilities as part of a worldwide reform meant to help the company get out of debt, union leaders say. Word of the layoffs sparked large protests and a mass strike in Israel earlier this month.
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