Teva turbulence

Teva’s been in the news a lot recently, so here’s a roundup to make sense of all of it. Going chronologically, first Teva announced it would be cutting 14,000 jobs company-wide—more than a quarter of its total workforce. The company still has a lot of debt after buying Allergan’s generics business, so they’re planning on a two-year company restructuring. Teva’s a huge deal in its home country of Israel, so this led to thousands of Israeli public sector workers striking last Sunday in solidarity with Teva workers. Israeli PM Benjamin Netanyahu met with Teva’s new CEO Kare Schultz to try to convince him to leave the company’s Jerusalem plant out of their restructuring plan, but they’re planning to go through with it anyway.