Teva Pharmaceutical Industries Limited (TEVA)-Tech Workers Strike
10/21/2013 7:32:30 AM
In the shadow of the public furor over Teva Pharmaceutical Industries Ltd.'s (NYSE: TEVA; TASE: TEVA) intention to lay off hundreds of employees in Israel, the 1,100 employees at the company's Teva-Tech plant at Neot Hovav in the Negev have gone on strike over their salaries and work conditions. The employees claim that 60% of the plant's employees earn the minimum wage, even when working on weekend and holiday shifts. Teva-Tech workers committee chairman Avraham Zohar said, "Teva's management has decided not to negotiate on a salary agreement, and is offering the same proposal for all the plants, [a pay hike of] 5% over five years.
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