GlaxoSmithKline expected to axe 4000 jobs.
Drugs giant GlaxoSmithKline is expected to announce plans to axe up to 4000 jobs this week as part of its ongoing restructuring. It is thought the majority of the cuts will be made to its European and US workforce, as the group shifts its focus to emerging markets.
Glaxo is expected to announce the planned job cuts alongside its full-year results on Thursday, when it is thought the group will report a return to annual profits growth, following an 11% fall during the previous financial year, boosted by sales of its swine flu vaccination.
Source: The Press Associated.
Total losses = 4000
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