GSK to cut US jobs as it targets £1bn in savings

GlaxoSmithKline Plc will cut several hundred jobs from its US workforce as part of the drugmaker’s efforts to reduce costs by £1bn (€1.27bn).

The company will eliminate positions in commercial and research operations as part of a global restructuring, London-based Glaxo said yesterday in an emailed statement.

Glaxo, the UK’s biggest drugmaker, is under pressure to reduce costs as earnings have slumped. The company has about 99,000 employees worldwide, with 17,000 in the US, most at Research Triangle Park in North Carolina and in Philadelphia.