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  5. PRESS: Glaxo Fires 100 China Staff After Corruption Scandal - FT

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Share Price: 1,733.50
Bid: 1,732.50
Ask: 1,733.00
Change: 5.00 (0.29%)
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PRESS: Glaxo Fires 100 China Staff After Corruption Scandal - FT

Mon, 09th Mar 2015 06:44

LONDON (Alliance News) - GlaxoSmithKline PLC has fired more than 100 staff in China as a result of the internal investigation the drugmaker carried out into the corruption scandal in the country which last year resulted in it being hit with a GBP300 million fine, the Financial Times reported on Friday.

The move is the biggest round of dismissals Glaxo has carried out in China since it was found guilty in September of bribing doctors to prescribe its medicines, the paper said.

The company would not confirm to the FT the number of staff involved, but the FT said sources familiar with the situation indicated it would be around 110 of the company's 7,000 employees in China.

http://www.ft.com/cms/s/0/9a72fa68-c44e-11e4-a949-00144feab7de.html#axzz3TrquFffc

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

Copyright 2015 Alliance News Limited. All Rights Reserved.

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