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Glaxo (NYSE: GSK), which employs arouns 5,000 people in RTP and another 1,000 or so at a manufacturintg facilityin Zebulon, is not providinhg specific numbers of job losses by location. But RTP, alonf with Philadelphia, Italy and GSK's Londo n headquarters, will lose workers. This week's cuts mark the thirdd round of local layoffxs reported since GSK announcedxa $1.4 billion cost-cuttint program in October 2007. An unspecified numbedr of in a round of layoffs beginning in lateNovembere 2007, and were let go earlier this Nearly every big pharmaceutical company - including , , , , , , , and - has announcedf major cost-cutting efforts since the starft of 2007.
The companies have been hit hard by competitiomn fromgeneric drugs. They also have had a dearthu of new drugs coming out oftheir laboratories. The treatments that do make it throughh human trials facetougher U.S. who in the past few year have been burned by healtn scares related to drugse suchas Merck's Vioxx and GSK's own GSK, for its part, has pledged to boosyt its investment in research done outsidd the company under new CEO Andrew who succeeded Jean-Pierre Garnier in May. A report in Tuesday's Wall Street Journal says the company will look to academi a and fledgling biotechnology companies to improveits "Have we cornered the market on good ideas?
Witty told journalists in May, according to the WSJ
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