Ailing GlaxSmithKline to axe 350 R&D workers

In an effort to shake up an organization that has produced few major advances recently, GlaxoSmithKline announced plans to axe 350 jobs in its R&D operations. The cuts--part of a major restructuring announced last fall--will terminate staffers at three labs in the U.S., Italy and Germany. These layoffs reflect the CEO Andrew Witty's strategic move to look outside the company for innovations in drug technology. Report

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