Protests all over Israel by thousands of workers at Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) are continuing today, following the publication of the company's plan for 1,700 layoffs and the failure of yesterday's meeting between Prime Minister Benjamin Netanyahu, Minister of the Economy and Industry Eli Cohen, Minister of Labor Social Affairs, and Social Services Haim Katz, Minister of Finance Moshe Kahlon, and Teva CEO Kare Schultz.
After Advocate Boaz Ben-Zur, representing the Histadrut (General Federation of Labor in Israel) and the workers' committees at Teva, yesterday sent a letter to Teva's management and board of directors alleging that they had breached their duty of care towards the company's employees, and warning that personal lawsuits would be filed against them, Teva workers this morning demonstrated in front of the home of Teva director Galia Maor.
Maor, the former CEO of Bank Leumi (TASE: LUMI), is one of Teva's four Israeli directors. She supported the extensive layoff at the company.
The Histadrut is planning additional protests in the coming days, as well as demonstrations and protest watches in front of the homes of other Teva directors.
In addition to these actions, the shutdowns at Teva's facilities throughout Israel continue today. A total strike is in force at the company's plants in Ashdod and Jerusalem, as well as at the Plantex and Abic plants in Netanya.
Work disruptions and workers' meetings will take place at the company's other sites in Israel, including at Neot Hovav in the Negev, Migada in Kiryat Shmona, the company's facilities in Kfar Saba, its logistical center in Shoham, and its headquarters in Petah Tikva.
Published by Globes [online], Israel Business News - www.globes-online.com - on December 20, 2017
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