It has been reported that Teva Pharmaceutical Industries (NYSE:$TEVA) is forecasted to fire roughly 1,700 workers in the coming months as part of the Israeli drug manufacturer’s streamlining plan that aims at hitting back at poor financial results.
On Thursday, the economic daily Calcalist reported that Teva Pharmaceuticals streamlining plan could witness a 25% slash from the 6,860 people local workforce. Additionally, the plan could see an overall cutback of 20% from its total employee numbers of roughly 57,000. The majority of the international firings are forecasted to be in the United States instead of in Teva’s European sites, the Calcalist reported.
News of the streamlining plan comes only a few weeks after new CEO Kare Schultz took over on November 1.
According to sources in Teva Pharmaceuticals, the company will not respond to “rumors” right now, but did note that “there is an intention to put into practice a streamlining plan, but there is not yet an agreed plan and its extent is unknown.”
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