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| Version 2 | Version 3 |
|---|---|
| Glaxo 'to cut thousands of jobs' | Glaxo 'to cut thousands of jobs' |
| (about 6 hours 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 according to reports in the Observer, The Sunday Times and The Telegraph. | More than 6,000 jobs are set to go according to reports in the Observer, The Sunday Times and The Telegraph. |
| 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. | The company employs around 100,000 people across the world, including 18,000 in the UK. |
| The company is suffering from increased competition from cheaper, generic drugs as patent protection runs out on a number of its household drugs. | The company is suffering from increased competition from cheaper, generic drugs as patent protection runs out on a number of its household drugs. |
| 'Restructuring' | 'Restructuring' |
| The "restructuring programme", designed to cut costs and boost profits, was announced in October 2007. | 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. | 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. | The company has manufacturing operations across the UK, including sites at Ware, Maidenhead and Worthing. |
| Last week, rival AstraZeneca said 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. |
| Job cuts | Job cuts |
| These job cuts would be the latest in a long line of recently announced lay-offs as UK companies struggle in the recession. | These job cuts would be the latest in a long line of recently announced lay-offs as UK companies struggle in the recession. |
| On Saturday, a CBI survey showed that small and medium-sized manufacturers in the UK are laying off workers at a faster rate than at any time since the early 1990s. | On Saturday, a CBI survey showed that small and medium-sized manufacturers in the UK are laying off workers at a faster rate than at any time since the early 1990s. |
| In total, 38% of UK firms surveyed cut jobs during the final quarter of 2008. | In total, 38% of UK firms surveyed cut jobs during the final quarter of 2008. |
| The latest unemployment figures show that there were 1.92 million people unemployed in the UK between September and November last year, the highest level since September 1997. | The latest unemployment figures show that there were 1.92 million people unemployed in the UK between September and November last year, the highest level since September 1997. |