Wednesday, November 09, 2011

Report: Teva may cut 1,000 Cephalon jobs | Philadelphia Inquirer

An Israeli media report Wednesday said that Teva Pharmaceutical Industries Ltd. could fire 1,000 workers in the United States and Europe in the wake of its acquisition of Cephalon Inc., which is based in Frazer, Chester County.

Teva's $8.6-billion deal for Cephalon closed in October. Responding to the report, Teva spokeswoman Denise Bradley said the integration of the two companies has only recently begun and will include employee cutbacks.

"At this point, we cannot comment on the number of employees or the fields in which changes will take place," she said in an e-mail.

Teva is based in Israel, but it has operations in North Wales and recently broke ground on a new facility in Northeast Philadelphia.    - Bob Fernandez

Posted via email from Jack's posterous

No comments: