Shire cutting up to 180 U.K. jobs, plus more in Switzerland

Shire ($SHPG) is confirming reports that it plans to significantly cut back on its sizable research operations in Basingstoke, U.K.--another setback for the country's research industry, with Novartis ($NVS) axing more than 500 staffers and consultants in Horsham following major blows from AstraZeneca ($AZN) and Pfizer ($PFE). More Shire layoffs are being prepped in Switzerland, where the company is relocating offices from Eysins to Zug. Report