Teva Pharmaceutical Industries Limited (TEVA) Dismisses Media Reports of Layoff After Cephalon, Inc. (CEPH) Buyout
11/10/2011 8:16:52 AM
Teva Phamaceuticals is disputing published reports that it has decided to lay off up to 1,500 workers at the recently acquired Cephalon. The Globes newspaper reported 1,000 employees will be fired. The Israeli news service Ynetnews puts the figure at 1,500 and most of those will be staff in Europe and the U.S. who work for Cephalon, purchased last month for $6.8 billion. Not so, says Teva. “It is still too early to say what the impact is on both Cephalon and Teva employees,” Teva spokeswoman Denise Bradley said in an e-mail discussing the published reports.