Drug giant to axe jobs in cost-cutting measure
Job losses at pharmaceutical giant GlaxoSmithKline were confirmed today as the group announced plans to ramp up cost savings by £1bn (€1.1bn).
The firm did not reveal how many jobs would be cut from its 100,000-strong global workforce or the impact on UK and Irish staff.
But it said it was looking to increase annual cost reductions from £700m (€795m) to £1.7bn (€1.9bn) by 2011.
The news comes just a week after fellow drugs group AstraZeneca said it was axing another 6,000 jobs by 2013 on top of the 9,000 already announced since 2007.
