GlaxoSmithKline: More Cuts Coming

| About: GlaxoSmithKline (GSK)

Over the weekend I received word from several people about impending trouble at GlaxoSmithKline (NYSE:GSK). A big worldwide management hoedown, the "First Line Leader" meeting which was to take place in Atlanta this week, has been abruptly canceled. The company's upper management has informed the erstwhile attendees that since financial results will be announced this Thursday, and since this announcement might have an impact on staffing (might?), they thought it was better that all the reporting teams be together for it.

Several European newspapers have since come out with word that several thousand cuts are going to be announced, but I have no more details on what's going to happen. I suppose we're all going to find out on Thursday, though. Stand by for what's going to seem like a long week if you're at GSK, and best of luck to you if you are.