THE TEVA building in Jerusalem..
(photo credit: REUTERS)
Drug giant Teva Pharmaceutical Industries Ltd. will move its headquarters from Petah Tikva to Ramat Hahayal in Tel Aviv, according to a report by Globes.
“The expected move-in date will be mid-2020,” said Teva’s vice president for global human resources Mark Sabag.
“We have chosen a site located in Ramat Hahayal, Tel Aviv, at a new building which will be housed in full by Teva’s headquarter’s employees. Combining into one site will fulfill our goal of working as One Teva, and will be an efficient and cost effective solution, generating significant savings from a business and operations point of view,” Sabag told employees on Sunday.
In recent years, Teva has had aggressive layoffs
. This new moved may put people at ease as the company decided to keep its main office in Israel rather than to relocate overseas.