Teva Pharmaceutical Industries Ltd. CEO Kare Schultz is making fast, dramatic changes at the generic drug giant as an emergency response to stabilize the company. The announcement Dec. 14 that Teva will cut more than 25% of its workforce, or 14,000 employees, will reshape the company entirely.
Schultz Swings The Cleaver At Teva, Cutting 25% Of The Workforce
Troubled Teva has been preparing employees for layoffs, but the final plan will reshape the generic drug giant entirely with 14,000 jobs being cut in a scramble to stabilize the company. Every business area and geography will be affected.
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