GlaxoSmithKline will cut 320 jobs as it sells its Horlicks brand in the UK

 
Courtney Goldsmith
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GSK said the company is improving efficiency and competitiveness (Source: Getty)

GlaxoSmithKline (GSK) has confirmed it will slash 320 jobs over the next four years as it sells its Horlicks brand in the UK and closes the associated manufacturing site in Slough.

GSK also said it intends to sell the consumer healthcare brand MaxiNutrition in the UK, and it is exploring options to divest some other smaller non-core nutrition brands.

Some of the job losses will also come from the outsourcing of manufacturing activity at its site in Worthing.

"We have had to make some decisions which we know will cause uncertainty for some of our employees. We will do all we can to support them through this process," said Roger Connor, president of global manufacturing and supply.

Read more: City grandee Neil Woodford scraps £1.2bn stake in GlaxoSmithKline

The pharmaceuticals giant also plans to invest more in drugs over the next three years.

Between now and 2020, the company will invest more than £140m to expand the manufacture of respiratory and HIV medicines in the UK. This comes in addition to the £275m of funding announced last year.

Philip Thomson, president of global affairs, said:

We are continuing to invest in science and our core businesses in the UK and we continue to see the UK as an attractive place for the life sciences industry. We are working constructively with the government and others to develop an ambitious plan for the sector as part of the UK’s new industrial strategy.

GSK said none of the announcements made today resulted from the UK's decision to leave the EU.

This is chief executive Emma Walmsley's first big change for the company. Walmsley led the company's consumer healthcare branch before succeeding Andrew Witty in April.

Read more: GlaxoSmithKline is plotting an £8bn bid to buy back Beechams maker

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