Teva Pharmaceutical Industries freezes recruitment but denies media reports of up to 6000 job losses

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Teva Pharmaceutical Industries has denied reports that it plans to cut between 2000 and 6000 jobs.

It had been reported that the world’s biggest generic drug maker planned to lay off up to 6000 workers (up to 11% of Teva’s global workforce of around 57,000). In response, the company released a statement saying that this was “incorrect”.

Teva acknowledged that it was implementing an “efficiency program” which includes “ending unprofitable activities and consolidating functions, in addition to freezing recruitment and natural employee turnover”. However, in reference to the numbers of job losses reported, the statement added: “We would like to stress that the numbers which were published in the media are incorrect.”

Erez Vigodman stepped down as Teva’s chief executive in February. Chairman Yitzhak Peterburg stepped in to replace him on an interim basis.