Israeli workers strike nationwide to protest Teva layoffs

Teva Pharmaceutical to lay off 14000 globally

Trains and buses were initially supposed to strike as well, but the Histadrut allowed public transit to operate so that soldiers could get back to their bases as usual.

Protesters gathered outside the company's offices in Jerusalem, in the coastal cities of Netanya and Ashdod, and in the central Israeli city of Petah Tikva, in demonstrations that coincided with a morning solidarity strike that shuttered Israel's airports, banks, and government offices.

Many flights set to depart on Sunday morning were rescheduled to leave earlier so only seven flights were cancelled due to the strike, the sources said.

Israel-based Teva Pharmaceutical Industries Ltd., the world's largest generic drugmaker, announced last Thursday that it was cutting 14,000 jobs worldwide.

Teva might have been better off as a smaller company, new CEO says.

Several protests are expected outside Teva factories in tandem with the strike.

Nissenkorn said he would meet with Israel's finance and economy ministers, along with the Teva workers union, on Monday.

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Jerusalem Mayor Nir Barkat attended the protest in the capital. Demonstrators blocked traffic at the entrance to Jerusalem outside the prime minister's office as the Cabinet was convening, and at the entrance to the Teva plant. The protester holds up a mourning announcement for Teva., December 17, 2017.

Flights at Israel's main airport were suspended for several hours on Sunday as part of a strike against plans by pharmaceutical giant Teva to shed employees. The Israeli leader has said he would do everything possible to minimize the impact of Teva's decision on local workers and keep the company operating in Israel.

Schultz last week sent Netanyahu a letter apologizing for the layoffs but saying he had no choice. "Organized labor has been enlisted and is sending a clear message".

Saddled with almost $35 billion in debt since acquiring Allergan's Actavis generic drug business for $40.5 billion, Teva made a series of changes after Schultz joined as its new chief executive on November 1.

The acquisition has been accompanied by low prices for generics, particularly in the United States, a major market.

According to Histadrut, Teva has received $6.2 billion in tax reductions since 2006.

Teva expects to save $3 billion by the end of 2019 with the two-year restructuring plan.


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