GSK to cut hundreds of jobs to save costs

GlaxoSmithKline (GSK) will this week inform US staff of hundreds of job cuts in its biggest market as the drugmaker starts implementing a major cost-saving programme, sources familiar with the matter said yesterday.

Britain’s top drugmaker announced at third-quarter results on October 22 that the restructuring scheme would save £1bn (€800bn) in annual costs over three years, but it has yet to tell employees where the axe will fall.

A spokesperson for GSK Ireland, which employs 1,500 people, said there are no specific plans for job cuts in Ireland at this stage.