Teva Axing 14,000 Positions, Shutting Facilities Worldwide

Teva Pharmaceutical Industries said today it will eliminate 14,000 positions worldwide—more than 25% of its workforce—over the next two years as part of a restructuring intended to cut costs incurred through a series of acquisitions, respond to growing competition, and stabilize a company that has seen six CEOs in five years.The layoffs will come as Teva shuts down “a significant number of R&D facilities, headquarters, and other office locations across all geographies,&rdqu