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DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.

Wednesday, February 3, 2010

GlaxoSmithKline to Cut Upwards of 4,000 Jobs

GlaxoSmithKline PLC, a worldwide pharmaceutical company with about 99,000 employees, is expected to announce between 3,000 and 4,000 job cuts this week.

The company, which declined to comment on the published reports, is slated to announce its fourth quarter results Thursday. The job-cut news comes a week after competitor AstraZeneca said it planned to eliminate 8,000 jobs, or 12 percent of its workforce, by 2012.

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