GlaxoSmithKline to cut 10,000 staff

[GoFlyKiteNow]

LONDON (AFP) - - British drugs giant GlaxoSmithKline will announce it is cutting up to 10,000 jobs when it posts full-year results this week, reports said on Sunday.

Sky News reported the group had confirmed it would cut thousands of jobs when it publishes its results on Thursday.

The Sunday Telegraph reported that 6,000 jobs would go, while the Observer put the figure at 10,000, which would represent 10 percent of the group's worldwide workforce.

The global pharmaceuticals giants are facing a growing commercial challenge from cheap, generic drugs as dozens of high-selling medicines lose patent protection.

GSK's rival AstraZeneca said on Thursday it would axe more than 6,000 jobs by 2013, extending a cost-cutting programme that had already shed about 8,000 positions since 2007.

 

[downgrader]

This AFP news report damn cockup, never provide sense of proportion. 10,000 is a lot but Glaxo so big, how many per cent of staff.

Worldwide economy all coma, Singapore is no different. In fact we were among the first to kena chiak lart chiak lart, that s why property must fall another 50% before there will be transactions picking up

 

[halsey02]

This AFP news report damn cockup, never provide sense of proportion. 10,000 is a lot but Glaxo so big, how many per cent of staff.

Worldwide economy all coma, Singapore is no different. In fact we were among the first to kena chiak lart chiak lart, that s why property must fall another 50% before there will be transactions picking up

You forgot already?, didn't you know who, recently 'lo hei' at GSk factory in Tuas and siad , "RETRENCHMENT LAST"...

 

[downgrader]

maybe reporter heard wrongly, actually was "retrenchment fast"

 

[UseYourBrain]

You forgot already?, didn't you know who, recently 'lo hei' at GSk factory in Tuas and siad , "RETRENCHMENT LAST"...

It shud be lust not last

 

[halsey02]

maybe reporter heard wrongly, actually was "retrenchment fast"

Ah! my friend!..doublespeak!...the ang moh's FT, the Malaysian FT's, the Indian FT's, the Pinoys FT's...the whatever other than Singaporeans, will be retrenched LAST!, and SINgaporeans FAST!.

Somebody said "Lust"...ha ha ha...anyway...it is FT LAST, SINgaporeans FAST!....same as the other..Old is GOld!...