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Teva to shut down Maltese plant, axe 210 jobs

Published on 30/11/16 at 11:31am

Teva is set to axe 210 jobs and shut down a production plant in Malta in an effort to cut costs following its $40 billion acquisition of Allergan’s Actavis Generics earlier this year.

Following the major deal, the Israel-based pharma firm dedicated itself to $1.4 billion annual cost cuts by 2020; this news seems to be a move toward that end as the company progresses in “consolidating productions” across its 30 European plants. The company’s strategy is to “optimise network efficiency, eliminate excess capacity to reduce costs, and better align production with market demand.”

The lay-off breaks down into a loss of 175 staff from Teva’s Bulebel plant and 35 from its Hal Far plant, the latter of which will see its operations terminated as part of the cost-cutting measures.

Malta’s employment minister Evarist Bartolo spoke harshly of the announcement: “It is terrible news to announce just before the Christmas holidays and we understand the workers’ worry. We are giving our assurances that all workers will be offered alternative employment. Whilst Teva’s decision will be implemented at the end of next year, we will not wait until then to find them an alternative job.”

He added that the company “could have found a different way and method of announcing its decision. Workers should not be treated as factors of production but as persons with their own families.”

Matt Fellows

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