GlaxoSmithKline set to slash 6,000 jobs

GlaxoSimthKline PLC could announce a near 6% reduction to its workforce as it cuts costs in the wake of greater generic-drug competition and fewer new products, according to London's Sunday Telegraph on Sunday. The British pharmaceutical giant is expected to announce the 6,000 job cuts on Thursday when it reports its fourth-quarter results, the newspaper said on its website. Rival AstraZeneca said last week it would cut 15,000 jobs by 2013.