![\"GlaxoSmithKline\"](\"http:\/\/s.wsj.net\/public\/resources\/images\/OB-DN012_GlaxoS_D_20090420045532.jpg\")
GlaxoSmithKline is going to cut R&D and other expenses as part of an effort to lower costs. The company wouldn’t specify how many jobs will be lost. <\/p>\nGlaxoSmithKline is going to cut R&D and other expenses as part of an effort to lower costs. The company wouldn’t specify how many jobs will be lost. <\/p>\n
But CEO Andrew Witty said that the figure in the U.K., where Glaxo is based, would likely be in the hundreds, Dow Jones Newswires reports<\/a>.<\/p>\n The Times of London and the Financial Times reported<\/a> a few days back that GSK was planning to cut 3,000 to 4,000 jobs. <\/p>\n In its fourth-quarter earnings release<\/a> today, the company said it is proposing the “cessation of discovery research in selected areas including depression and pain,” and looking to establish a new unit for research into rare diseases.<\/p>\n The company says it plans to save an extra \u00a3500 million a year by 2012 by cutting from R&D as well as sales and administrative expenses, with 70% of the savings going to the bottom line and 30% being reinvested.<\/p>\n Just yesterday, Pfizer<\/a> outlined plans to cut billions of dollars in annual research spending. And AstraZeneca<\/a> said last week that it planned to cut 8,000 jobs.<\/p>\n GlaxoSmithKline is going to cut R&D and other expenses as part of an effort to lower costs. The company wouldn’t specify how many jobs will be lost. But CEO Andrew Witty said that the figure in the U.K., where Glaxo is based, would likely be in the hundreds, Dow Jones Newswires reports. The Times of […]<\/p>\n","protected":false},"author":650,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-277335","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/277335","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/650"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=277335"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/277335\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=277335"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=277335"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=277335"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}<\/img><\/a>
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