Israeli drug company Teva to lay off thousands of employees

December 13, 2017 10:19
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Breaking news. (photo credit: JPOST STAFF)

Israeli pharmaceutical company Teva will announce the lay offs of thousands of employees on Thursday, according to Israeli media.

The embattled Israel-based company is trying to drastically reduce its expenses within the next two years.Last month, the debt-laden company was reportedly considering firing 20% to 25% of its 6,860 workers in Israel. The company was also considering whether to send termination letters to 4,000 people worldwide.

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