Is Teva’s Waterford operation in the clear?

TEVA workers in Waterford remain hopeful that they will avoid sweeping job cuts which are being proposed by the parent company of the pharmaceutical giant.
The Israeli company plans on cutting its global workforce by over a quarter in 2018 – sparking fears in Ireland that jobs at the Waterford and Dundalk plants may be under threat.
The Waterford plant is seen as being of strategic importance within the wider Teva manufacturing network and is responsible for the manufacturing and development of respiratory products for supply to the US and other global markets.

However, it looks as though this strategic importance does not automatically mean that the Waterford plant will be exempt from any proposed cuts.
The company has indicated that job losses will impact on every function, manufacturing site, research and development location and every office facility within the company.
Workers in Waterford have been given an indication that whatever job cuts are made here may not be as large as those at other Teva sites.
However, Teva in Waterford did cancel its Christmas party earlier this month.
Teva is struggling to pay back $35 billion of debt accumulated after paying $40.5billion for Allergan Plc’s medicines unit last year.

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