Teva Identifies Job Cuts in Pennsylvania as Part of Restructuring
Teva Pharmaceutical Industries is planning more than 200 layoffs in 2018 at sites in Pennsylvania. The company reported the changes in a WARN (Worker Adjustment and Retraining Notification Act) filing with the Pennsylvania Department of Labor and Industry. A WARN notice is a federal requirement that provides notification of job reductions to various parties, including the appropriate unit of local government.
Teva’s WARN notice included the following: 65 layoffs at its sites in North Wales and Horsham, Pennsylvania; 47 layoffs at its site in West Chester, Pennsylvania; and 96 layoffs at its sites in Great Valley and Frazer, Pennsylvania. The reductions will be in effect from January 18, 2018 to December 31, 2018.
The notices follows a previously announced restructuring for the company. In December 2017, Teva announced a detailed two-year restructuring plan that includes a reduction of 25% of its workforce or 14,000 positions globally, closures or divestments of research and development (R&D) facilities and offices, and a $3-billion reduction in its annual costs. This followed an announcement by Teva in November 2017 of a new organizational structure and executive management team, which followed the appointment of a new president and chief executive officer (CEO), Kåre Schultz, who took over on November 1, 2017.
