Drugmaker Glaxo PLC’s takeover of its British-based competitor Wellcome PLC will claim hundreds of jobs in the United States over the next five years, the company said Tuesday.
Glaxo, which won regulatory approval to buy Wellcome in June, said it will cut about 1,000 of 1,600 jobs at a former Wellcome plant in Greenville.
Most of the 1,000 jobs will be eliminated, but some will be transferred to Glaxo’s U.S. headquarters in Research Triangle Park or to Great Britain.
sponsored Jargon is confusing, by definition. And the financial world has its own set of cryptic words.