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| Glaxo to slash thousands of jobs | Glaxo to slash thousands of jobs |
| (about 1 hour later) | |
| Drugs giant GlaxoSmithKline is set to announce thousands of job cuts as it faces increasing competition from generic drug makers, reports suggest. | Drugs giant GlaxoSmithKline is set to announce thousands of job cuts as it faces increasing competition from generic drug makers, reports suggest. |
| More than 6,000 jobs are set to go as more of the company's drugs lose patent protection, reports say. | More than 6,000 jobs are set to go as more of the company's drugs lose patent protection, reports say. |
| A spokesman for the company could not confirm or deny the reports, saying simply that Glaxo "was in the middle of a restructuring programme". | A spokesman for the company could not confirm or deny the reports, saying simply that Glaxo "was in the middle of a restructuring programme". |
| Some of the cuts will be made from the UK workforce, the reports say. | Some of the cuts will be made from the UK workforce, the reports say. |
| The company employs around 100,000 people across the world, including 18,000 in the UK. | |
| 'Restructuring' | |
| The "restructuring programme", designed to cut costs and boost profits, was announced in October 2007. | |
| At the end of 2008, Glaxo announced around 800 job cuts in the UK. | At the end of 2008, Glaxo announced around 800 job cuts in the UK. |
| This included 200 at its factory in County Durham, and more than 600 as a result of the closure of its factory in Kent in 2013. | |
| The company has manufacturing operations across the UK, including sites at Ware, Maidenhead and Worthing. | |
| Last week, rival AstraZeneca said that it would cut an additional 6,000 jobs on top of thousands of cuts already announced. | Last week, rival AstraZeneca said that it would cut an additional 6,000 jobs on top of thousands of cuts already announced. |
| Glaxo reports its annual results on Thursday of next week. | Glaxo reports its annual results on Thursday of next week. |