The group, which employs about 600 staff at its flu vaccine manufacturing plant in Speke, revealed the restructuring in third quarter results announced today.

It said the move will be implemented over three to five years and will save £125m a year, but will involve a restructuring charge of around £187.5m in the fourth quarter of its current financial year.

The changes involve the reallocation of production resulting in the closure of two sites in Switzerland and one in Italy, as well as a restructure of the development organisation in Switzerland and the US and relocating some research activities from Switzerland to the US.

Functions affected include technical research and development, data management, clinical trial monitoring, drug and safety and epidemiology and drug regulatory affairs.

Most of the 2,000 job cuts will be in Switzerland and the US, although 700 new roles will be created in “low cost and other countries”.

The Basel-based group said the job losses will be subject to employee consultations.

Today’s figures for the latest three months showed that net sales increased 18% to £9.25bn, the core operating income grew by 11% to £2.56bn and free cash flow grew 27% to £2.3bn.

Chief executive Joseph Jiminez, said: “Once again, the bredth of our business and profuct por