GSK is poised to reduce its back office headcount to help fund a new £400m mega-campus in Cambridge. This move is intended to bolster its drugs pipeline and address a looming patent expiry.
Chief executive Luke Miels unveiled plans for the 300,000 square foot site, which will become the new home for GSK's research and development arm and host more than 1,000 scientists. The group is expected to implement layoffs to support this investment and its operating margin.
The company will vacate its Stevenage R&D site for Cambridge by 2029. Miels stated that this investment "will accelerate our R&D and help us deliver new, competitive products."
The job losses are anticipated to affect back office roles, such as human resources, and involve shifting staff from general medicine divisions to support faster-growing areas of the business. GSK also plans to double its phase-three trials this year, from 10 to 20.