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

Pharmaceutical company GSK announced on Tuesday a significant restructuring, The Guardian reports. The company will cut one point nine billion pounds in costs to fund a four hundred million pound investment in UK life sciences over three years, including a new research and development center in Cambridge. More than a thousand scientists will relocate there. The longtime R&D site in Stevenage will close by twenty twenty-nine, while nearby Ware facilities will be upgraded. The consolidation is aimed at accelerating drug development, according to GSK.

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