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Report: Teva may cut 10,000 jobs to reduce costs

Teva Pharmaceutical Industries Ltd. is looking to reduce its workforce by up to 10,000 employees in order to cut costs, Bloomberg News reported Dec. 8, citing unnamed sources.

The Israeli pharmaceutical company intends to cut costs between $1.5 billion and $2 billion over the next two years, according to the news outlet's sources.

Bloomberg reported that no final decision has been made yet and that the number of jobs to be cut may change, ranging from 5,000 to 10,000.