Key facts
- GSK plans significant job cuts.
- GSK is implementing a £1.9 billion cost-saving plan.
- The company will invest £400 million in UK life sciences.
- A new R&D campus will be built in Cambridge.
- GSK will close its Stevenage R&D site.
- The Stevenage R&D site closure is scheduled for 2029.
Pharmaceutical giant GSK is implementing a significant cost-saving plan, amounting to £1.9 billion, which includes substantial job cuts. This financial restructuring is designed to support a £400 million investment in the UK's life sciences sector. A key component of this investment is the establishment of a new research and development campus in Cambridge. Concurrently, GSK will close its existing R&D site located in Stevenage by the year 2029. This strategic decision reflects a broader effort by the company to optimize its operational footprint and concentrate resources in areas identified for future growth and innovation within the UK.