More job cuts in RTP

September 30, 2008 9:03:50 PM PDT
A day after Sony Ericsson announced its cutting 450 jobs; more cuts are coming to Research Triangle Park.Tuesday, Glaxo Smith Kline says it plans to cut 850 jobs company wide.

The job cuts come at a bad time when unemployment is already high and job opportunities low.

RTP is the site of one of Glaxo Smith Klines two U.S. headquarters. The other is in Philadelphia. The company said it will cut jobs mostly in research and development.

GSK released a statement saying in part, "we believe these changes are necessary as part of GSK's longer-term strategy to ensure that we can invest in key areas of future growth and evolve our business to compete effectively in what is a rapidly changing and challenging environment for pharmaceutical companies."

Employees tell Eyewitness News they fear for their jobs.

At Sony Ericsson, workers are on edge still not sure what their future holds after Monday's announcement to slash 450 jobs.

RTP's Board of Directors say they are always preparing for tough times, but never expected this major economic downturn.


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