500 jobs at pharmaceuticals manufacturing site under threat
Israeli company Teva Pharmaceuticals which employs about 500 people at its Runcorn, Cheshire manufacturing facility has announced plans to cut 14,000 jobs worldwide – 25% of its total headcount.
The company – the world’s largest generic medicines specialist – said nearly half of the job losses, some 6,400, will be sustained in Israel.
Meanwhile, dividend payouts to shareholders are also being suspended as Teva targets the equivalent of £2.3bn of savings within two years.
The company is currently struggling with $35bn... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
