Exhibition Stands News
GlaxoSmithKline ''set to make jobs cuts''
02 Feb 2009
Thousands of workers at GlaxoSmithKline are set to lose their jobs when the drugs giant announces its full-year results later this week, it has been reported.
An article in the Sunday Telegraph said the firm is expected to announce 6,000 job cuts when it makes its fourth-quarter result public on Thursday, as it faces challenges from cheap generic medications.
The report said GlaxoSmithKline employs approximately 100,000 people around the globe and a proportion of the cuts are "almost certain" to be from its 18,000-strong UK workforce.
Last week, AstraZeneca announced it would reduce its workforce by 6,000, increasing the total number of cuts to 15,000 by 2013.
It is unclear as to how this will impact employees in the UK, who number around 11,000.
GlaxoSmithKline states it spends more than £300,000 per hour on research into new medicines in six major disease areas - diabetes, digestive conditions, mental health, infections, virus control and asthma.
