Teva Pharmaceuticals to lay off 14,000 employees worldwide, 1,750 in Israel

Teva's shares rallied on Thursday in response to the proposed cutbacks, rising more than 15% in one day on the Tel Aviv stock exchange, as of 4pm Israel time.

An Israeli flag flutters near the logo of Teva Tech which is part of Teva Pharmaceutical Industries in Neot Hovav, southern Israel December 14, 2017.

(photo credit: REUTERS/AMIR COHEN)

ByMAX SCHINDLER

DECEMBER 14, 2017 16:10

Updated: DECEMBER 15, 2017 01:26

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