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The pharmaceutical giant, GlaxoSmithKline (GSK) has announced it is to close a financial services unit in its Cork base with the loss of 94 jobs.

The jobs, which are all based in GSK’s facility in Cork Airport, will go over a phased basis throughout 2013 as GSK moves the remainder of it’s financial services unit to the UK.

GSK currently employs over 1,500 people in Ireland in its facilities in Dublin, Cork and Dungarvan, but unfortunately is no stranger to job cuts, shedding some 121 jobs in 2011, also from it’s Cork operations, and 100 jobs in 2008.

Fianna Fáil leader and Cork South-Central TD, Micheál Martin, said of the announcement: “The 94 families affected by this terrible news will rightly expect that the response from Government is swift and co-ordinated.

“Many of those working with GSK will have skill sets that are much in demand. It is important that every effort be made by the government agencies to ensure that these skills are matched with what opportunities exist as soon as possible.”