Drugs giant GSK is cutting up to around 350 research and development jobs across the US and UK as part of an ongoing restructuring. Around 50 roles are being eliminated at its main R&D hub in Stevenage, Hertfordshire, with more cuts expected in both countries.
The timing is significant. New chief executive Luke Miels, who took over at the start of the year, is preparing to unveil his first annual results on Wednesday. The cuts affect a global R&D workforce of around 12,000 people.
The job reductions come with a striking paradox. GSK has ramped up R&D investment by almost 90% in recent years, reaching £6.4 billion in 2024. The company expects spending to rise further.
Strategic Refocus
A GSK spokesperson explained the approach: «GSK R&D investment has risen by almost 90% over recent years – to £6.4 billion in 2024 – and we expect it to increase further as we focus on delivering our pipeline of new medicines with multi-blockbuster potential before 2031. As we increase investment, we're focused on allocating resources to these priorities and making sure we have the right people in the right teams.»
The company is directing resources toward medicines with multi-blockbuster potential. It aims to deliver its pipeline before 2031. The firm is also investing in technology and key R&D sites over the next five years to accelerate drug discovery.
Restructuring Context
The cuts stem from earlier corporate changes. Five years ago, GSK merged its vaccines and speciality medicines operations. In 2022, it spun off consumer healthcare business Haleon. These moves created duplicated roles that are now being eliminated.
GSK insists it continues to increase R&D investment in the UK despite the job losses.
Note: This article was created with Artificial Intelligence (AI).
