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Glaxo to cut 650 U.S. jobs as part of global restructuring

GlaxoSmithKline Plc. GSK, -0.52% will cut 650 jobs in the U.S. as part of previously announced global restructuring, Reuters reported Wednesday. The British drugmaker told Reuters the cuts would affect offices in Philadelphia and North Carolina, as well as about 450 sales representatives. Glaxo has about 15,000 U.S. workers. Glaxo's American depositary shares are up 13% this year, compared to the S&P 500's SPX, -0.28% 8% gain.

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