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Earlier on Thursday, two of Israel's leading financial news
websites carried separate reports that Teva, the world's biggest
generic drug maker and Israel's largest company, planned to fire
between 2,000 and 6,000 workers - or as much as 11 percent of
the workforce.
A Teva spokesperson had initially declined to comment on the
report, but the company later put out a statement saying the
figures the media gave were inaccurate.
"The efficiency program is an integral part of Teva's business
reality. The program includes, among other things, ending
unprofitable activities and consolidating functions, in addition
to freezing recruitment and natural employee turnover," the
company said.
"These processes are conducted through a continuous open
dialogue with the employees. This will be the practice,
including in Israel, as necessary. We would like to stress that
the numbers which were published in the media are incorrect," it
said.
Teva <TEVA.N> employs around 57,000 people globally.
It has had a rough year, though, with a series of costly
acquisitions, along with delayed drug launches, sending its
stock plummeting 72 percent to $32.61 the past 12 months.
That forced former chief executive Erez Vigodman to step down in
February, with Chairman Yitzhak Peterburg replacing him on a
temporary basis.
One of the websites, Calcalist, said Teva has already reduced
its workforce in Israel by around 100 people as part of the
efficiency plan.
(Reporting by Ari Rabinovitch and Steven Scheer; Editing by Ruth
Pitchford)
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