HGS sharpens ax as restructuring claims 114 jobs

Just months after agreeing to be bought out by GlaxoSmithKline ($GSK) for $3.6 billion, Human Genome Sciences is axing about 10% of its workforce. News outlets in the area say that HGS has informed state officials that it will cut 114 of about 1,000 staffers in an internal restructuring. So far there are no details about which departments are being scaled down in the wake of the buyout. The Baltimore Business Journal reports that the Rockville, MD-based developer will start lowering the ax on workers in October. Story