Arab Israeli Conflict
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Morning flights halted at Ben-Gurion, public transit to operate as usual.
Teva's shares rallied on Thursday in response to the proposed cutbacks, rising more than 15% in one day on the Tel Aviv stock exchange, as of 4pm Israel time.
The Petah Tikva-based company seeks to reduce its expenses by $1.5 billion to $2 billion in the next two years.
Teva has received some NIS 22 billion in tax breaks and grants over the past decade, without any conditions regarding layoffs in return.
By MAX SCHINDLER
There are some 1,780 Jerusalemites employed at the city’s two branches of Teva, which for decades has been one of the country’s greatest industrial success stories.
By PEGGY CIDOR
If done right, Israel could turn the Teva crisis from a misfortune into an opportunity.
By YAAKOV KATZ
Prime Minister Benjamin Netanyahu said that American Vice President Pence is “a great friend of Israel and a great friend of Jerusalem.”
By HERB KEINON
Teva has benefited from an estimated NIS 22 billion ($6.2b.) in tax breaks and subsidies from 2006 until today.
Prime Minister Benjamin Netanyahu called Teva's CEO Kare Schultz on Thursday.
Protesters blocked the gate to the pharmaceuticals factory.
By ALON HOCHMON/MAARIV,YUVAL BAGNO/MAARIV,MAX SCHINDLER,JPOST.COM STAFF
Israeli media assesses that at some 300 employees would lose their jobs.
By SHARON UDASIN
Why the pharmaceutical giant needs to be bailed out
By SHLOMO MAITAL
The 30-year journey from mass layoffs at socialist behemoth Koor to mass layoffs at capitalist flagship Teva is part of a global need for a new economic idea.
By AMOTZ ASA-EL
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