GSK to Announce Restructuring, Hundreds of Layoffs

Dec. 1, 2014

According to a Bloomberg article, London-based GlaxoSmithKline Plc (GSK) is planning a reorganization that would include hundreds of job cuts in the United States.

The company could announce the restructuring as soon as this week, sources say. Deirdre Connelly, president of North American operations, is scheduled to speak to U.S. employees on Dec. 3, the article says.

Glaxo said in October it will cut costs by $1.57 billion over three years, with half the savings coming in 2016. Read the Bloomberg story