GSK to cut jobs amid £1.9bn cost-cutting plan and bid for faster drug development

AI Summary

GSK announced a £1.9 billion cost-cutting programme that includes cutting jobs and investing £400 million in UK life sciences. The company will consolidate research activities by moving scientists to a new R&D centre in Cambridge and closing some existing sites by 2029.

Pharmaceuticals company is investing £400m in UK life sciences and moving scientists to new Cambridge R&D site Business live – latest updates 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. Continue reading...