December 14, 2017 / 11:56 AM / 6 months ago

Netanyahu asks Teva Pharm to minimize job loss in Israel

JERUSALEM (Reuters) - Israeli Prime Minister Benjamin Netanyahu said on Thursday he spoke with the chief executive of Teva Pharmaceutical Industries (TEVA.TA) and asked that the company keeps layoffs in Israel to a minimum.

An Israeli flag flutters near the logo of Teva Tech which is part of Teva Pharmaceutical Industries in Neot Hovav, southern Israel December 14, 2017. REUTERS/Amir Cohen

Israel-based Teva (TEVA.N), the world’s largest generic drugmaker, is due to unveil a major restructuring on Thursday to help pay off its debt.

Netanyahu in a statement said he requested from CEO Kare Schultz to “maintain the identity of Teva as an Israeli company,” and Schultz promised to do so.

Reporting by Ari Rabinovitch

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