GSK to cut jobs amid £1.9bn cost-cutting plan and bid for faster drug development
by Joanna Partridge from World news | The Guardian on (#779NW)
Pharmaceuticals company is investing 400m in UK life sciences and moving scientists to new Cambridge R&D site
The British drugmaker GSK is to announce sweeping job cuts as part of a 1.9bn cost-cutting programme to pay for a 400m investment in UK life sciences over the next three years, including in a new research and development centre in Cambridge, as it looks to develop drugs more quickly under its new chief executive.
The pharmaceuticals company announced on Tuesday it will move more than 1,000 of its scientists to its new site on the Cambridge biomedical campus. It will close its R&D site in Stevenage in Hertfordshire by 2029, while upgrading its R&D laboratories at nearby Ware and moving some employees there.
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