GlaxoSmithKline (GSK.L) said on Wednesday it would shed "several hundred" U.S. commercial jobs and a similar number of research positions as it restructures operations in its biggest market, where drug sales are flagging.
Breaking News
GlaxoSmithKline will this week inform U.S. staff of hundreds of job cuts in its biggest market as the drugmaker starts implementing a major cost-saving program, sources familiar with the matter said on Sunday.
GlaxoSmithKline may have closed one chapter in a saga of corruption allegations by accepting a $489 million fine in China, but the drugmaker has its work cut out to win back skeptical investors.
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