Teva plots thousands of job cuts as restructuring drive enters ‘acceleration’ phase

# Teva's Strategic Job Cuts:
3,000 Positions to Be Eliminated in Restructuring Acceleration

Teva Pharmaceutical is cutting approximately 3,000 jobs, representing 8% of its global workforce of 36,167 employees12
The layoffs will be implemented over the next 18-24 months as part of a broader efficiency program25
CEO Richard Francis is leading a strategic pivot from being a legacy generics manufacturer to a biopharmaceutical company focused on innovative drugs2
The restructuring aims to generate $700 million in savings by 202721
Cuts will primarily affect logistics and procurement departments while R&D remains a growth area2
Despite announcing lower revenue forecasts, Teva has revised its 2025 earnings guidance upward, now expecting non-GAAP earnings per share of $2.45-2.655
The company's share price jumped 10% following the announcement, though it remains 25% lower than after its Q4 2024 results25
In Israel, where Teva employs around 3,400 people, approximately 300 jobs could be affected if cuts are distributed evenly2
CFO Eli Kalif indicated implementation would be faster than the timeline suggests, calling this "just the first step" in a multi-year streamlining effort2

Sources:

1. https://firstwordpharma.com/story/5958299

2. https://www.calcalistech.com/ctechnews/article/s100fprteel

5. https://en.globes.co.il/en/article-teva-to-lay-off-3000-employees-1001509735