Substantial job cuts feared at GlaxoSmithKline

Pharmaceutical giant GlaxoSmithKline is expected to announce thousands of job losses alongside its annual results this week, with UK jobs at risk.

The company employs 99,000 people in more than 100 countries, but in 2007 it announced a major restructuring, aimed at reducing its costs by £1.7bn a year.

The company is switching its focus to emerging markets, including China, which will lead to a reduction in the workforce in Europe and the US, reports the Guardian.

GSK’s rival AstraZeneca announced last week that it would be shedding 8,000 staff, and fresh job losses will raise fears about the future for the pharmaceuticals sector, historically an area of strength for British business.

GSK employs more than 20,000 staff in the UK at sites in Ware, Temple Hill in Dartford, Maidenhead and Worthing.

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