Fed Up With Paying the Price for Teva's Woes, Workers Dig In
- Banners decorate Kfar Saba site protesting against job cuts
- Teva is a “big ship” with no captain, union leader says
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White banners with red-and-black Hebrew letters saying "We won’t be the victims” hang in the parking lot, lobby and hallways of the Teva Pharmaceutical Industries Ltd. factory at Kfar Saba, on the outskirts of Tel Aviv.
Workers at the site are pushing back against proposed job cuts and demanding managers share the pain as the world’s biggest maker of copycat medicines tries to recover from $43 billion in botched acquisitions that left it mired in debt. Laborers earning an average 8,000 shekels ($2,223) a month shouldn’t have to bear the brunt when interim Chief Executive Yitzhak Peterburg gets paid almost 100,000 shekels a day, they say.