GSK turns to R&D jobs for savings
Executive Summary
GlaxoSmithKline announced plans to cut R&D employment in the U.K. and U.S. by 850 positions, or about 6 percent of its global R&D staff of 15,000, as part of an ongoing restructuring program. In July, the company announced it is creating small drug performance units, which will operate within its Centers of Excellence for Drug Discovery. The centers focus on particular therapeutic areas; the new units, consisting of five to 80 scientists, concentrate on specific biological pathways and will compete for funding (1"The Pink Sheet," July 28, 2008, p. 10)
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