Monday, February 28, 2011

Move from Philadelphia Scheduled for GlaxoSmithKline

Who thought moving from Philadelphia could be such a savvy business move? Pharmaceutical giant GlaxoSmithKline is moving its Philadelphia operations to a new facility in South Philadelphia. The company just signed a nearly 16-year lease for the new site and plans on saving $26 million annually by making the move to an old U.S. Navy shipyard. This major relocation will be to a new facility that boasts 205,000 square feet and will also relocate around 1,300 jobs to the new site.

The company looks forward to the move to the new facility, saying the open-space layout will help employees to collaborate better. That and the boost to their bottom line make this relocation seem like the best option for GlaxoSmithKline.

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