A proposal was made that there should be an incentive to other firms in Jerusalem to absorb as many dismissed Teva employees as possible.
Teva has received some NIS 22 billion in tax breaks and grants over the past decade, without any conditions regarding layoffs in return.
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.
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.
Outside the meeting, thousands of soon-to-be laid-off Teva employees demonstrated with their families.
Teva’s fall is tragic. But we should not learn the wrong lessons.
If done right, Israel could turn the Teva crisis from a misfortune into an opportunity.
Prime Minister Benjamin Netanyahu said that American Vice President Pence is “a great friend of Israel and a great friend of Jerusalem.”
Morning flights halted at Ben-Gurion, public transit to operate as usual.
Teva has benefited from an estimated NIS 22 billion ($6.2b.) in tax breaks and subsidies from 2006 until today.