Pharmaceutical Giant Teva to Fire Thousands, Including at Least 700 in Israel

Stock jumps 2% as the company announces worldwide job cuts and cost-saving measures that will include its Israeli operations.

The Israeli generic drug company Teva  Pharmaceutical Industries is expected to fire 700 to 800 of its 7,400 local workers in the coming year, in line with its announcement yesterday that it would slash its global workforce by 10 percent.