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GSK plans job cuts and a Cambridge R&D expansion
The company will move more than 1,000 scientists to a new Cambridge biomedical campus site and close its Stevenage R&D facility by 2029 as part of a 1.9 billion pound cost-cutting program.
GSK said it will announce sweeping job cuts as part of a 1.9 billion pound cost-cutting program designed to fund a 400 million pound investment in UK life sciences over the next three years. The plan also centers on reorganizing research operations as GSK seeks to develop drugs more quickly under new chief executive Luke Miels.
The company will move more than 1,000 scientists to its new Cambridge research and development center, with development focused on areas including oncology, respiratory, hepatology, vaccines and HIV. GSK said it will close its R&D site in Stevenage in Hertfordshire by 2029, while upgrading laboratories at nearby Ware and relocating some employees there.
GSK said its 300,000 square foot Cambridge site, developed by Prologis, is part of one of Europe’s largest biomedical campuses, which includes more than 22,000 life sciences workers and over 470 biopharma, biotech and AI companies. The company said the new facility will use state of the art, tech-enabled labs and bring more scientists into the UK’s Cambridge, Oxford and London “golden triangle.”