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Glaxo To Cut Thousands Of Jobs?

Media reports say GlaxoSmithKline plans to cut up to 4,000 jobs later this week, but the pharmaceutical company declined to comment on the reports.

LONDON (AP) -- Pharmaceutical company GlaxoSmithKline PLC on Monday declined to comment on published reports that it plans to cut thousands of jobs.

The Sunday Times, which did not identify a source for its report, said that GSK planned to announce up to 4,000 job cuts later this week. The Financial Times, also without identifying a source, put the number at more than 3,000.

Glaxo, which has about 99,000 employees in more than 100 countries, will announce its fourth-quarter results Thursday.

Last week, rival pharmaceutical company AstraZeneca PLC said it planned to trim its work force by 12 percent by 2014, eliminating 8,000 jobs.

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