GSK to cut 14 Irish jobs as part of restructuring plan
Published 13/05/2013 | 05:00
DRUG giant GlaxoSmith-Kline (GSK) is cutting 14 jobs at its Dublin-based commercial division.
Some of the redundancies will probably be mandatory, though the company will look for volunteers. Staff have been informed of the cuts but no one has been formally let go yet.
GSK, the maker of Panadol and NiQuitin, is cutting the jobs as part of a European-wide restructuring programme. A spokesperson said the company needed to be more efficient. It plans to reduce costs by at least £1bn (€1.18bn) a year by 2016.
It recently announced 94 job losses at its Cork shared-services operation. The multinational employs around 1,600 people in Ireland.
Its restructuring efforts echo moves by Pfizer and Schering-Plough to reduce their Irish workforces in line with falling global drug demand.
However, GSK has said sales and profit will rise in 2013 as it prepares to launch six new drugs.
Irish IndependentFollow @Indobusiness