News
11 Nov 2011
Teva to Make Jobcuts across US and Europe
Teva is to make 1,000 of its employees redundant following its acquisition of US-based Cephalon last month.
Teva Pharmaceuticals plans to make 1,000 of its employees redundant following its acquisition of US-based Cephalon last month.
The cuts represent approximately 27% of Cephalon's entire workforce. The layoffs will not affect Teva's operations in its home nation Israel, but instead in the US and Europe.
The company has expected to gather at least $500m in synergies as a result of the acquisition.
Teva CEO Shlomo Yanai is currently in the US overseeing the merger of Cephalon's interests.
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