The agreement covers employees who agree to leave voluntarily.
Teva Pharmaceuticals reached agreement with Israel’s Histadrut labor federation on Thursday to award preferential severance packages to company administrative staff taking voluntary redundancy, both sides said in a statement.
The move is part of a global restructuring by the world’s largest generic drugmaker in which it plans to cut more than a quarter of its workforce, or some 14,000 jobs.
Under a two-year plan, Teva aims to reduce costs by $3 billion by the end of 2019, from about $16.1 billion in 2017.
read more: https://www.haaretz.com/israel-news/1.833186
