Severe job cuts at Teva incite massive worker strikes, shutting Israel down
Layoff announcements made by the new head of generics giant Teva Pharmaceutical $TEVA have sparked massive strikes in Israel, the company’s headquarters, briefly shutting down the country.
Israel’s national labor union held rallies outside Teva facilities, burning tires in front of its offices, blocking major roads (including the entrance to Jerusalem), among other protests. The country’s airport, stock exchange, banks, and all government ministries were temporarily shut down on Sunday, the first day of Israel’s work week. Even hospitals scaled back operations. Protesters held signs saying “Bring the failed management of Teva to justice.”
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