Job losses at drug firm

Employees at GlaxoSmithKline have been told today that up to 60 percent of them are facing the axe.

Bosses at the Norrey's Drive manufacturing plant revealed the bad news to workers that 287 jobs could be cut over the period to the end of 2010, as part of a global restructuring plan.

The Maidenhead factory currently employs 480 people.

Rumours of job losses began circulating last year after the drug firm revealed it needed to shave £700m off its annual costs within three years, with 40 per cent of those savings coming from their manufacturing division.

A consultation has begun over the proposed cutbacks, which are part of plans to improve the cost effectiveness of the site by focussing on producing bulk orders.

Ole Rasmussen, site director at Maidenhead, said: "It has been difficult to arrive at this proposal and we regret the impact on jobs. We are commited to treating our employees failry and compassionately during this difficult period and will do all we can to provide assistance in finding alternative employment."

For the full story see this Thursday's Advertiser.