GlaxoSmithKline Expected to Cut 4,400 Jobs
February 1, 2010
U.K.-based GlaxoSmithKline, will announce plans this week to cut 4,000 more jobs, the Sunday Times of London reports. The newspaper says that the job reductions are likely to be announced as part of the company’s earnings release. GSK will make most of the cuts in the United States and Europe as it tries to shift more of its 99,000-person work force to developing countries with stronger growth potential, according to the Sunday Times report. GlaxoSmithKline has cut thousands of jobs over the past couple of years as the company realigns its pipeline to prepare for the end of patent protection on several of its top-selling drugs. The company has made a series of product and company acquisitions to bolster its pipeline and has moved away from in-house research and development.