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GlaxoSmithKline To Cut 350 R&D JobsThomson Financial News
June 12, 2008
LONDON - British drug maker GlaxoSmithKline Plc. said Wednesday it plans 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 told AFP, saying the total cuts would be 2 percent 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 October aiming to save 700 million pounds annually from 2010.
http://www.forbes.com/afxnewslimited/feeds/afx/2008/06/12/afx5107657.html
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