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(Sharecast News) - Haleon, the British healthcare company behind brands like Sensodyne and Panadol, is expected to announce 435 job cuts over the next two years due to plans to shut its Maidenhead manufacturing plant.
The factory, Haleon's only manufacturing site in the UK, will be closed in a phased way over the two years, with some production transferring over to another plant in Slovakia.
"Following a strategic review of our global manufacturing capabilities, we have determined that our Maidenhead site is no longer a viable option for the manufacture of our products," the company said in a statement.
"We have therefore taken the difficult decision to begin a phased closure of the site over a two-year period, subject to consultation."
The stock was up nearly 2% at 337.7p in afternoon trading.
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