GSK could announce 10,000 lay-offs
UK drug major GlaxoSmithKline is to become the latest firm to announce job-cuts, with over 6,000 positions to be terminated by 2013 in order to combat the upcoming patent losses, according to reports.
The company is set to announce its full-year results as the Marketletter goes to press and various news sources have reported that a round of lay-offs will follow the report. Some commentators placed the figure at more than 10,000 terminations.
The coming announcement is said to be part of GSK's plan to save $750.0 million a year by 2010, that was launched two years ago (Marketletters passim).
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