Teva Sheds 5,000 Jobs
Investing News Network - October 11th, 2013
Teva Pharmaceutical (NYSE:TEVA) is axing 10 percent of its workforce, around 5,000 people, in order save up to $2 billion a year, Fox Business News reported.
Teva Pharmaceutical (NYSE:TEVA) is axing 10 percent of its workforce, around 5,000 people, in order save up to $2 billion a year, Fox Business News reported.
As quoted in the market news:
About $1 billion in cost savings would be seen in 2014, with that number set to double in subsequent years as Teva caps off the program. Teva previously estimated cost-savings of $1.5 billion to $2 billion.