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Teva to fire more than 1,000 workers abroad
Employees from Croatia, US to be dismissed due to Israeli pharmaceutical company acquisition of Barr
Teva completed its $7.5-billion acquisition of the Barr pharmaceutical company only two months ago, and the integration process has already begun accelerating. The immediate operational move to be taken by Teva will include the dismissal of some 1,100 workers worldwide.
News agencies reported that as part of its reorganization process, Teva plans to fire 790 workers of Croatian pharmaceutical company Pliva, 98% of which is owned by Teva. Teva gained control of Pliva after it was acquired by Barr in October 2006 for $2.4 billion.
The company currently has 38,000 employees. Teva's workers in Israel will not be discharged for now.
Pharmaceutics
Associated Press
Israel-based pharmaceutical company says received approval to begin marketing low-cost version of Risperdal in US
After acquiring Barr, Teva said it plans to cancel duplications at its subsidiaries' headquarters and launch a reorganization process at the global company.
Meanwhile, another move to be taken by Teva will be the dismissal of an additional 300 workers at the company's factory in Doral, Florida, according to the Miami Herald. As part of the reorganization, Teva plans to fire the employees as of June in a process expected to continue until October 2010.
According to publications, the move is aimed at improving Teva's efficiency at a factory which is not considered one of the company's main factories.
At the end of 2007, Teva employed 28,000 workers worldwide, but the company's manpower strength reached 38,000 after it acquired Barr. Although Teva is an Israeli company, only 5,500 of its workers, who constitute 14% of the manpower, are employed in Israel.
