International diabetes drug manufacturer and pharmaceutical giant GlaxoSmithKline have warned that they will be cutting costs to offset falling sales of their blockbuster diabetic drug Avandia. Part of the measures may include worldwide job cuts.
GlaxoSMithKline will attempt to save £700 million over the next three years, although the number of job-cuts this would entail remains to be seen. Astra-Zenecan, a rival pharmaceutical company, will slash 7,600 jobs worldwide in a similar cost-cutting attempt.
Glaxo employ over 100,000 people throughout the world. In the UK alone, Glaxo operates sites at Ware, Dartford, Worthing and Maidenhead . The group employs some 22,000 people in the UK.
The chief executive of Glaxo, Jean-Paul Garnier, reportedly commented: “Sadly there will be some job losses and possibly site closures, subject to consultatio, and we’ll do everything we can to support everybody involved in the process. In some cases we’ll be talking about adding jobs and expanding the business, but in terms of cuts, there will be cuts across the board.”

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