GlaxoSmithKline to Cut 350 R&D Jobs

June 12, 2008

Cuts represent 2% of the R&D workforce

GlaxoSmithKline said June 12 it planned to cut 350 jobs in its research and development departments worldwide as part of a restructuring plan launched last October.

"We continue to reshape our R&D operations to take advantage of new scientific opportunities and improve GSK's productivity," a spokesman for the group said, saying the total cuts would be 2% of the R&D workforce or 350 jobs.

GlaxoSmithKline, the biggest British pharmaceutical company that employs 100,000 people, launched a cost-cutting plan last Ocotober aiming to save $1.4 billion annually from 2010.

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