Pharmaceutical giant Pfizer is to cut around 500 jobs at its Sandwich site in Kent.
The move is part of its plan to cut costs by $3.5 billion (£2.8 billion).
The reductions will impact the site’s pharmaceutical sciences small molecule (PSSM) operations.
The site currently employs around 940 people.
According to Sky News, the company would relocate these roles to India and the US.
Pfizer still plans to maintain other operations at the Kent facility, but a spokeswoman mentioned that the scale will be different.
The decision comes in the wake of Pfizer revising its revenue forecasts downward due to lower-than-expected sales of COVID-19 vaccines and treatments.
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The spokeswoman said: “We are proud of our heritage of breakthrough science in the UK and we will retain a scientific presence in the UK including at our Discovery Park location in Sandwich.
“These proposals are now in consultation with the affected colleagues.
“All job-related decisions will be made with transparency, respect, and in compliance with all applicable laws.
“More information around this global programme will be shared over the coming months and as part of the full-year guidance for 2024.”