Following news that UK-based GlaxoSmithKline plc (GSK
) bribed doctors and officials to improve sales in China, the drugmaker announced that it will be cutting jobs in the country.
In the last few months, the company has reported layoffs in China as it has increased monitoring of employee expense claims. GSK did not report how many employees will be laid off, but it has around 7,000 employees in China.
According to Chinese officials, GSK employees held fake conferences with expense claims for doctors, hospital administrators and government officials to try to improve sales. The company is currently under investigation in China.
GSK Dividend SnapshotAs of 8:39am on April 4, 2014
Click here to see the complete history of GSK dividends.
GlaxoSmithKline shares were down 7 cents, or 0.13%, during pre-market trading Friday. The stock is down 1.25% YTD.
No comments:
Post a Comment