Sources say GSK to cut hundreds of jobs in the US following oncology business sale to Novartis

1 December 2014

Sources close to the company have said UK pharma major GlaxoSmithKline (LSE: GSK) is to announce hundreds of job cuts in its US sites.

This comes as part of the company’s recently-announced program to cut costs that it hopes will save $1.6 billion annually over three years. The sources said staff would be notified on Wednesday, December 3, by Deirdre Connelly, the company’s head of North American pharma.

The drugmaker has not commented on the details, but a spokesperson said the aim of the restructuring was to "refocus our global pharmaceuticals business and deliver cost savings," and "improve performance by taking unnecessary complexity out of our operations and establish a smaller, more focused organization, operating at lower costs, that supports our future portfolio."

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