December 14, 2017 / 11:56 AM / a year ago

Netanyahu asks Teva Pharm to minimize job loss in Israel

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

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.

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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