GSK closes down manufacturing site in Bangladesh with 1,000 employees

GlaxoSmithKline will definitely close down its Bangladesh production site, which will result in 1,000 employees to lose their jobs. The Britain-based multinational will continue its business in the country through GSK Bangladesh Ltd, of which the state-run Investment Corporation of Bangladesh owns 12% stake, while 6% of the shares are held by a large number of minor investors.

(Source: Reuters)