World's largest drugmaker to make massive cuts

February 5, 2009 11:18:02 AM PST
GlaxoSmithKline is expected to cut between 6,000 and 10,000 of its workforce worldwide. The United Kingdom-based pharmaceutical company and world's largest drugmaker has a facility in the Research Triangle Park.

It is not known if those workers will be affected.

According to published reports, a company spokesperson would only say the company is implementing an ongoing restructuring program.

Glaxo attributes the slowing development pipeline of products and competition from cheap, generic manufactures as reasons for the cuts.

The company is due to release its fourth-quarter results Thursday and has not commented publicly about the impending cuts.