The Israeli pharmaceuticals company is shedding 350 employees at Teva Tech in Ramat Hovav.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) this morning announced that it is laying off 350 employees at the Teva Tech plant in Ramat Hovav in the Negev, near Beersheva. The layoffs will be implemented over the next 18 months.

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Teva, one of the few Israeli companies which is "too big for Israel", has never been on solid financial of management footing.

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