GSK books £318m restructuring charge as it plans Belgian job cuts

GSK reported £318 million in restructuring charges for July–September 2026 in its 28 October financial update, The Guardian said. The British drugmaker expects further costs from a programme that includes proposed job cuts in Belgium.

Chief executive Luke Miels announced the cost-saving programme in July to speed up drug development. GSK then announced its Belgian proposal on 14 October, putting up to 1,217 positions at risk. Those cuts remain subject to employee information and consultation.

Booked costs and future targets

Miels, who became chief executive in January 2026, said GSK was slightly ahead on the three-year plan. He said simplifying operations would allow more investment in research and development. The annual savings figure remains a target.

GSK shares fell as much as 7% on 28 October before narrowing their decline to 5.5% during trading.

What the Belgian proposal would change

GSK says greater use of digital tools and automation is expected to lead to about 1,200 Belgian job losses. That rounded estimate refers to the existing proposal for up to 1,217 cuts. The company says it wants more standardised working methods and will use its global operations or outside partners where appropriate. Belgium will continue to produce the bulk of GSK’s vaccines, the company said.

The FGTB Chimie-Pétrole union puts GSK’s Belgian workforce at roughly 8,300–8,400 people. It says the proposal covers research and development, production and support functions. GSK says manual workers are not included.

The affected operations include vaccine manufacturing at Wavre and research and development at Rixensart. FGTB also identifies Gembloux, which handles storage and logistics. BrabantNews says accounts differ on whether Gembloux is included. GSK has not set out how the proposed losses would be divided among sites.

Consultation will examine alternatives

FGTB says management’s explanations of a new strategy and lower production volumes do not justify cuts on this scale. Jamal Amraoui, its principal GSK delegate, said the union would propose alternatives to reduce the impact. CSC described the restructuring as indecent.

Setca delegate Anthony Morelli described blockades at Wavre and Rixensart following the announcement. Management and unions met on 16 October and agreed to space out consultation meetings, rather than meet weekly as management had proposed. CNE delegate Élodie Mascolo welcomed that agreement but said the process was only beginning.

Belgium’s Renault procedure, the legal process for collective redundancies, requires management to answer employee representatives’ questions and examine proposals to avoid or reduce dismissals. Consultation must finish before dismissals can proceed. Formal notification is then followed by a 30-day ban on dismissals, which can be extended to 60 days.

BrabantNews, citing L-Post, said management was open to early-retirement options and internal redeployment for some affected staff. The final number of job losses and departure terms remain undecided. The next consultation meetings are scheduled for 10 November, 24 November and 8 December 2026, when management and unions will continue examining the proposal and alternatives.