Glaxo's post-Novartis vax deal reorg could uproot hundreds of jobs
- Roughly 300 GlaxoSmithKline staffers in Cambirdge, MA and Philadelphia, PA will be affected by the pharma giant's massive vaccines franchise reorganization.
- This is part of the aftermath of the GSK and Novartis asset swap last year in which Novartis took on GSK's oncology portfolio and GSK took on Novartis's vaccines group.
- In this case, the affected workers will be offered a relocation package, but will ultimately lose their jobs if they don't want to move.
So far, the total anticipated job loss count (overall, including non-vaccine related overhauls) at GSK is 1,000 positions. Most of these are R&D jobs located in North Carolina and Philadelphia, and much of this reorganization is driven by the fact that revenues do not match what had been anticipated in light of new product approvals.
Moreover, GSK wants to recalibrate its R&D teams with more focus on vaccines. This requires a large-scale business and organizational overhaul, which top management thinks will ultimately be worth it.