Teva Pharmaceuticals, which has a warehousing and distribution site in Montgomery Township, will cut down its workforce by 10 percent--about 5,000 people--by the end of 2014, according to Philadelphia Business Journal. The company plans to save $2 billion by axing employees, which is part of a restructuring plan worldwide, per the article. More than 700 employees work at the Montgomery Township site, per WNPV. Teva employs more than 7,000 people in the United States alone. All in all, more than 46,000 people worldwide work for Teva. Teva is also shuttering its West Rockill Township, Bucks County facility in 2017, affecting about 472 workers. The company is still reviewing which jobs it will cut, per The Philadelphia Business Journal. A Teva spokesperson said there has to be a planning process first.