GSK slashes workforce

In another move to encourage innovation while trimming its research and development budget, pharmaceutical company GlaxoSmithKline has announced that it will cut two percent, or 350 jobs, from its global R&D staff, according to linkurl:__The Wall Street Journal__.;http://online.wsj.com/article/SB121318410957563897.html?mod=hps_us_at_glance_health "

By | June 11, 2008

In another move to encourage innovation while trimming its research and development budget, pharmaceutical company GlaxoSmithKline has announced that it will cut two percent, or 350 jobs, from its global R&D staff, according to linkurl:__The Wall Street Journal__.;http://online.wsj.com/article/SB121318410957563897.html?mod=hps_us_at_glance_health "These changes are part of GSK's longer-term strategy to ensure that we 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 GSK spokesman told __The Wall Street Journal__. This news comes on the heels of an linkurl:announcement;http://www.the-scientist.com/blog/display/54738/ from GSK that it will be "more biotech-like," providing incentives and disincentives to researchers searching for marketable drug discoveries. Three GSK research labs, in the U.S., Britain and Italy, will be affected by the cuts, which are part of a GSK plan to save 1.37 billion a year by 2010.

Comments

Avatar of: Li Chen

Li Chen

Posts: 10

June 17, 2008

This is a reposition of GSK. What is the impact of this cut on its operations in the other regions, such as China and India?\n\nTo me, biotech is just a marketing tagger for the same product.

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