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GlaxoSmithKline will this week inform U.S. staff of hundreds of job cuts in its biggest market as the drugmaker starts implementing a major cost … GSK to cut hundreds of US jobs ... “GSK announced a new restructuring program [on October 22]) to refocus our global pharmaceuticals business and deliver cost savings. GlaxoSmithKline will this week announce reduced investment some disease areas and more than 3,000 job cuts as it intensifies its diversification away from its core pharmaceutical business.

Pharmaceutical company GSK has bounced 0.4% to £14.95 and Sanofi has buoyed 0.6% to 85.7p as the drugmakers announced they would begin a …

'I want to get the club to the final of the Champions League': Lucy Bronze on her Manchester City return GlaxoSmithKline has announced a major restructuring programme that will see the company slash £400 million (€449m) in annual costs in an effort to bolster research spending.GlaxoSmithKline has announced a major restructuring programme that will see the company slash £400 million (€449m) in annual costs in an effort to bolster research spending.The pharma giant said on Wednesday that the savings would be delivered primarily through "supply chain optimisation" and a cut in administrative costs.The extra cash will be used to ramp up spending on research and development (R&D) and to support new products.GSK said it will cost around £1.7 billion (€1.9bn) over the period to 2021 to implement the programme.The company has not ruled out job losses but has yet to detail which positions or divisions may be affected.The move deepens the mark to be left by chief executive Emma Walmsley, who joined the company last year and recently signed off on a 13 billion US dollar (€11.1bn) deal to buy Novartis's stake in its consumer healthcare joint venture giving it full ownership of the division.Ms Walmsley said: "Innovation is the first of our three long-term strategic priorities I set out for GSK last year.Improving the performance of our pharmaceuticals business and strengthening our R&D pipeline is fundamental to this. No public announcement is expected to be made on job cuts but staff in the US will be given further details on how the restructuring may affect them on Wednesday by GSK’s head of North American pharmaceuticals, Deirdre Connelly, according to Reuters.A spokesman for GSK would not give further details.The company said in a statement: “GSK announced a new restructuring program [on October 22]) to refocus our global pharmaceuticals business and deliver cost savings. Your Irish Examiner delivered to your door© Irish Examiner Ltd, Linn Dubh, Assumption Road, Blackpool, Cork. Sales of Advair dropped 25pc in the third quarter in the US. Pharmaceutical giant GlaxoSmithKline (GSK) says it will offload more than 130 of its non-core brands, as it extends a major cost cutting programme that saw it announce 320 job cuts last week. Britain’s biggest drugmaker GlaxoSmithKline has set out plans to “fundamentally re-shape” the business - with jobs on the line as the pharmaceuticals giant aims to cut costs by £1 billion. Staff to be told this week how GlaxoSmithKline intends to reach its £1 billion cost savings over three yearsStaff at GlaxoSmithKline will this week be told about hundreds of job cuts as part of a major overhaul to save £1 billion over three years.The pharmaceutical giant, which is trying to recover from a year marred by a bribery scandal in China and lacklustre sales, will outline to employees in greater detail how it intends to make the savings, which were announced alongside its third quarter results in October.Hundreds of jobs are expected to go in the US, GSK’s biggest market, where the company has been hit by a sharp fall in sales, especially of respiratory drugs.

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