The pharmaceuticals company AstraZeneca is planning to open a new research and development centre in Cambridge.
About 1,600 jobs will be relocated from Alderley Park in Cheshire, with most going to the new Cambridge site. It is part of a £330 million investment over three years.
The plans could see up to 700 job cut at other sites. The announcement has been attacked by trade unions, which complained that high-quality jobs were being lost from the North West.
Pascal Soriot, Chief Executive Officer of AstraZeneca, said: "This is a major investment in the future of this company that will enable us to accelerate innovation by improving collaboration, reducing complexity and speeding up decision-making."