Glaxo plans to cut about 2,175 jobs, mainly in the U.K

Article Abstract:

GlaxoSmithKline PLC is planning to layoff approximately 2,175 employees, primarily in the UK. The decision comes as the company reviews its worldwide production operations.

Drugs & Pharmaceuticals, Pharmaceutical and Medicine Manufacturing, Drugs, Human resource management, Pharmaceutical industry, GlaxoSmithKline PLC

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Billiton plans to buy back shares

Article Abstract:

Billiton PLC, a UK mining concern, plans to buy back 10% of its shares at current and higher price levels. The move comes less than a year after it generated cash from new shareholders via a London, UK, listing. The company said the program would enhance earnings and net asset value per share and cut the cost of capital. Billiton shareholders will decide in October 1998, during their annual general meeting whether to approve the buyback program, which will be timed to account for the scrapping of advanced corporation tax.

Comment:

Plans to buy back 10% of its shares at current and higher price levels

Acquisitions & mergers, Metal Ores, Metal Ore Mining, Mining industry, Ores, BHP Billiton PLC

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BOC lays off 10% of its work force as part of a continuing restructuring

Article Abstract:

BOC Group PLC of the UK laid off on Aug. 11, 1998, nearly 10% of the company's total workers as part of the company's continuing restructuring efforts. The company's move was prompted by weak currencies in Asia-Pacific and overcapacity in major markets. According to BOC, the employment reductions will save the company around 50 million pounds sterling in its next financial year, ending September 1999, and approximately 120 million pounds sterling annually once the move is effected. BOC's restructuring plans will affect around 3,700 BOC workers and another 1,200 people at BOC's associated firms.

Comment:

Lays off on 8/11/98 nearly 10% of its total workers as part of this co's continuing restructuring efforts

Chemicals & Allied Products, Chemical Manufacturing, Chemicals, BOC Group PLC

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