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Teva to Cut Up To 25% Of Israel Workforce, Calcalist Says

Teva Pharmaceutical Industries Ltd., the debt-ridden drugmaker, plans to fire as much as 25 percent of its Israeli workforce, according to a local business daily.

The world’s largest manufacturer of generic and over-the-counter medicines will begin the dismissals in coming days, Calcalist reported Thursday, without saying how it got the information.

Teva also will let go more than 10 percent of its U.S.-based workers and some in Europe, according to Calcalist. Michael Hayden, head of global research and development, is expected to leave the company, the report said.

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