Drug maker GlaxoSmithKline has announced plans to reduce its 17,000-strong research and development workforce by 350 in order to cut costs.
The firm, which has suffered from generic drug brand competition and several product release setbacks, said in a statement that it had decided to “take advantage of new scientific opportunities and improve [its] productivity,” adding: “Regrettably some job reductions are necessary and we will do everything we can to support these employees who are affected.”
Glaxo has not yet confirmed which sites are to bear the brunt of the cuts.
