GSK may shed 6% of R&D jobs

Source: Healthcare Digital

Date :01/10/2008 08:42:51

GlaxoSmithKline plc is planning to cut up to 850 research and development jobs in Britain and the United States, in a bid to improve productivity.

The move reflects a tough stance on costs by new Chief Executive Andrew Witty. He has pledged to make GSK a lower-cost company as part of his strategy to improve returns to investors.

The cuts will affect GSK’s RTP facility, where the company employs more than 4,000 people, but no specifics were released.

“These changes are necessary as part of GlaxoSmithKline's longer-term strategy to ensure that we can invest in key areas of future growth and evolve our business to compete effectively in what is a rapidly changing and challenging environment for pharmaceutical companies,” a spokeswoman said.

The reduction is in addition to 350 job cuts announced by the world's second biggest drugmaker in June.