Open

Coming up

Don't miss

Replay


LATEST SHOWS

AFRICA NEWS

Exiled family returns to Somaliland

Read more

DEBATE

Whose boots on the ground? Turkey wary of Syrian Kurds (part 2)

Read more

DEBATE

Whose boots on the ground? Turkey wary of Syrian Kurds

Read more

TALKING EUROPE

Dacian Ciolos, EU Commissioner for Agriculture and Rural Development

Read more

TALKING EUROPE

EU-US free trade agreement: A bad deal for European consumers?

Read more

THE INTERVIEW

Hassan Sheikh Mohamud, Somali president

Read more

ENCORE!

Tony Allen: Putting the 'beat' in Afrobeat

Read more

REPORTERS

Uruguay: President Mujica’s social revolution

Read more

FOCUS

Video: Turkey ‘turns blind eye’ to border-crossing jihadists

Read more

Business

GSK to cut 4,000 jobs in Europe and US

Text by News Wires

Latest update : 2010-01-31

Despite rising profits, British pharmaceuticals company GlaxoSmithKline is expected to announce a cut up to 4,000 more jobs. Most of the jobs cut will be in the United States and Europe.

AFP - British pharmaceuticals giant GlaxoSmithKline is to cut up to 4,000 more jobs as it restructures its workforce and focuses increasingly on emerging markets, The Sunday Times reported.
   
The majority of the jobs will be lost in the United States and Europe, the newspaper said.
   
GSK, which employs just under 100,000 staff globally, is expected to reveal plans for the job cuts when it releases its annual results on Thursday, the report said.
   
Its Anglo-Swedish rival AstraZeneca announced on Thursday it plans to axe 8,000 more jobs worldwide by 2014, extending a cost-cutting drive despite soaring profits.
   
While GSK is still seeking to develop new drugs, it is increasingly turning to emerging markets to find growth.
   
This led to it recently cutting 2,000 sales jobs in the United States while adding 1,500 staff in China.
   
The big players in the global pharmaceuticals industry are seeing their profits squeezed as they reduce their reliance on top-selling blockbuster drugs, many of whose patents will soon expire.

Date created : 2010-01-31

  • BENIN

    Chirac joins African leaders in calling for ban on fake drug sales

    Read more

COMMENT(S)