Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  TEL AVIV STOCK EXCHANGE  >  Teva Pharmaceutical Industries Limited    TEVA   IL0006290147

SummaryQuotesChartsNewsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets

Teva considering cutting up to 10,000 jobs: Bloomberg

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/08/2017 | 05:54pm CEST
FILE PHOTO: The logo of Teva Pharmaceutical Industries, the world's biggest generic drugmaker and Israel's largest company, is seen in Jerusalem

(Reuters) - Teva Pharmaceutical Industries Ltd (>> Teva Pharmaceutical Industries Limited) is considering cutting up to 10,000 jobs as CEO Kare Schultz seeks to reduce $1.5 billion to $2 billion in costs over the next two years, Bloomberg reported, citing people familiar with the matter.

(Reuters) - Teva Pharmaceutical Industries Ltd (>> Teva Pharmaceutical Industries Limited) is considering cutting up to 10,000 jobs as CEO Kare Schultz seeks to reduce $1.5 billion to $2 billion in costs over the next two years, Bloomberg reported, citing people familiar with the matter.

U.S.-listed shares <TEVA.N> of the debt-laden Israeli drugmaker jumped as much as 7 percent to $16.09 on Friday.

No final decision has been taken, and the targets may be modified, with a range of 5,000 to 10,000 jobs being discussed, Bloomberg reported. https://bloom.bg/2kdYEBI

"We don't comment on market rumors," Teva spokeswoman Denise Bradley said in an emailed statement.

Israeli financial news website Calcalist had reported two weeks ago that the drugmaker would send termination letters to "tens of percent" of its 10,000 employees in the United States.

Schultz, who took over as CEO of the world's largest maker of generic drugs last month, has ousted the company's three top division heads.

Teva is saddled with nearly $35 billion in debt after its $40.5 billion acquisition of Allergan Plc's (>> Allergan plc) generic drug business last year.

Profits from generics have slumped since that deal closed, and the CEO who engineered the purchase was forced to step down earlier this year.

Teva has about 57,000 employees globally, according to the company's website.

(Reporting by Akankshita Mukhopadhyay in Bengaluru; editing by Sai Sachin Ravikumar and Sriraj Kalluvila)

Stocks treated in this article : Teva Pharmaceutical Industries Limited, Allergan plc
Stocks mentioned in the article
ChangeLast1st jan.
ALLERGAN PLC -0.17% 158.51 Delayed Quote.1.22%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on TEVA PHARMACEUTICAL INDUST
10:51aTEVA PHARMACEUTICAL INDUSTRIES : to Present New Data across Multiple Therapeutic..
AQ
04/19PAXMAN PUBL : receives market approval in Mexico and plans Q2 launch with licens..
AQ
04/19P&G Acquires the Consumer Health Business of Merck KGaA, Darmstadt, Germany; ..
AQ
04/19TEVA PHARMACEUTICAL INDUSTRIES : and the Procter & Gamble Company Have Agreed to..
BU
04/17TEVA PHARMACEUTICAL INDUSTRIES : to Present New Data Across Multiple Therapeutic..
BU
04/16HISTADRUT : Teva ignoring potential Ashdod plant buyers
AQ
04/15TEVA PHARMACEUTICAL INDUSTRIES : Israeli unions warn Teva Pharm over plan to clo..
RE
04/10TEVA PHARMACEUTICAL INDUSTRIES LTD ( : Today’s Research Reports on Stocks to Wat..
AC
04/09TEVA PHARMACEUTICAL INDUSTRIES : closing Ashdod plant, laying off 85
AQ
04/09TEVA PHARMACEUTICAL INDUSTRIES : lawsuit over Rimsa buy fizzles out
AQ
More news
News from SeekingAlpha
08:10aTeva Continues To Deliver But Analysts Stay Bearish 
04/19Novartis Q1 results weigh on pharma stocks 
04/19U.S. opioid prescriptions down 12% last year, largest drop in 25 years 
04/19Flattening Yield Curve, Trade Tensions, Kinder Morgan (Wall Street Breakfast .. 
04/19WALL STREET BREAKFAST : Rally In Commodities Helps Push Stocks Higher 
Financials ($)
Sales 2018 19 600 M
EBIT 2018 -
Net income 2018 -
Debt 2018 -
Yield 2018 -
P/E ratio 2018 -
P/E ratio 2019
Capi. / Sales 2018 0,92x
Capi. / Sales 2019 0,93x
Capitalization 18 119 M
Chart TEVA PHARMACEUTICAL INDUST
Duration : Period :
Teva Pharmaceutical Indust Technical Analysis Chart | TEVA | IL0006290147 | 4-Traders
Technical analysis trends TEVA PHARMACEUTICAL INDUST
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 2
Average target price 18,5 $
Spread / Average Target 3,9%
Managers
NameTitle
Kåre Schultz President, Chief Executive Officer & Director
Sol J. Barer Chairman
Carlo de Notaristefani Executive Vice President-Global Operations
Michael McClellan Chief Financial Officer & Executive Vice President
Amir Elstein Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
TEVA PHARMACEUTICAL INDUSTRIES LIMITED-2.92%18 119
JOHNSON & JOHNSON-8.59%342 627
PFIZER0.30%217 064
NOVARTIS-6.21%213 465
ROCHE HOLDING LTD.-12.17%193 713
MERCK AND COMPANY4.21%158 813