GlaxoSmithKline - Top 10 Layoffs of 2010

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Company: GlaxoSmithKline
Layoffs: 5,201

Scoop: CEO Andrew Witty spent the year finding cost-saving options for the company, including laying off workers in Europe and the U.S., including 700 from the sales and marketing division. GSK believes the future is in emerging markets, particularly in Asia and South America, and its transferring much of its muster into those areas with numerous deals.

But beyond layoffs, Witty looked at other failing strategies, including spending £3 billion in nine years on research that found no new products.