Employment, Labour-market, Lithuania, Markets and Companies

The company notified the Employment Services of the layoffs earlier this week. It now employs 56 people, based on figures from the state social insurance fund Sodra.

The restrictions put in place due to the coronavirus in spring had not affected the company’s operations or its business model, GlaxoSmithKline Lietuva said in its 2019 report filed to the Center of Registers. The company also said that the demand for its products had not decreased substantially but warned about a potential fall in orders.

GlaxoSmithKline Lietuva last year saw its revenue increase by an annual 21.5% to 25.2 mln euros. Its net profit grew by 5.8% y-o-y to 0.9 mln euros, of which 0.86 mln euros would be paid out as dividend.

Britain's Wellcome Limited, whose ultimate shareholder is Britain's GlaxoSmithKline, holds 100% shares in the Lithuanian pharmaceutical wholesaler.