The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Chemicals And Pharamceuticals Manufacture Of Basic Pharmaceutical Products And Pharmaceutical Preparations 21 - Manufacture of basic pharmaceutical products and pharmaceutical preparations
550 jobs Number of planned job losses
Announcement Date
4 February 2010
Employment effect (start)
30 April 2010
Foreseen end date
Description
Pharmaceutical company Glaxo Smithline is to cut 550 jobs at its site in Verona. The company will close its research unit with the loss of 550 jobs. Glaxo has around 1,500 employees in Verona. The trade unions and the local authorities disagree with the company's decision.
These job cuts are part of a larger restructuring plan that will result in the loss of around 4,000 jobs worldwide. The bulk of the cuts will be in America and Europe, and are part of the company's efforts to make its research and development arm more cost-efficient. The company also intends to focus increasingly on emerging markets.
Sources
5 February 2010: Il corriere della sera
5 February 2010: La Repubblica
Citation
Eurofound (2010), Glaxo SmithKline, Internal restructuring in Italy, factsheet number 70148, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/70148.
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