Trou­bled Te­va brings out the ax as it cuts deep in­to its Is­raeli phar­ma group

Te­va won’t wait for a new CEO to take the helm be­fore it starts lay­ing off work­ers in Is­rael.

Over the week­end the gener­ic/brand­ed hy­brid con­firmed plans to be­gin lay­ing off staffers among its pro­duc­tion units. Lo­cal news­pa­pers like Haaretz says the job cuts will in­clude 350 of its 7,000 em­ploy­ees in Is­rael.

The state­ment, sent to End­points News, notes:

Te­va to­day an­nounced the im­ple­men­ta­tion of an ad­di­tion­al stage in a re­or­ga­ni­za­tion and busi­ness fo­cus process in Is­rael, which aims to strength­en the com­pet­i­tive­ness of the sites. As such, the com­pa­ny is be­gin­ning a con­sul­ta­tion process with the His­tadrut and the unions of Kfar Sa­ba and Te­va Tech re­gard­ing the ter­mi­na­tion of em­ploy­ment of man­agers and em­ploy­ees at these two sites over the com­ing months.

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