Jobs under threat at Castleford pharmaceutical HQ
Israeli company Teva Pharmaceuticals, which employs around 770 staff at its Teva UK headquarters in Castleford, 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 would be in Israel.
The company is currently struggling with $35bn of debt as a result of competition and increasing competition. Dividend payouts to shareholders are also being suspended as Teva targets the equivalent of £2.3bn of savings... 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...
