Advertisement

If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)

ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.

ENJOY UNLIMITED ACCES TO C&EN

Business

Teva will cut 14,000 jobs worldwide

by Ryan Cross
December 18, 2017 | A version of this story appeared in Volume 95, Issue 49

Kåre Schultz, the new CEO of Teva Pharmaceutical Industries, is making good on his promise to launch a major restructuring of the indebted generic-drug giant. Schultz aims to reduce Teva’s costs around the globe by $3 billion by 2019. To do that, Teva will slash 25% of its workforce, about 14,000 employees, and shutter many of its R&D facilities, manufacturing plants, and offices worldwide next year. The Israeli firm’s stock spiked 16% upon the news.

Article:

This article has been sent to the following recipient:

0 /1 FREE ARTICLES LEFT THIS MONTH Remaining
Chemistry matters. Join us to get the news you need.