Eli Lilly & Co. (LLY) Cutting 3,500 Jobs
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Lilly Takes Steps to Streamline Business, Invest in New Medicines and Drive Growth
September 7, 2017 9:15 AM EDTINDIANAPOLIS, Sept. 7, 2017 /PRNewswire/ --Â Eli Lilly and Company (NYSE: LLY) today announced actions to streamline operations to more efficiently focus resources on developing new medicines and to improve its cost structure. Global workforce reductions, including those from a U.S. voluntary early retirement program, are expected to impact approximately 3,500 positions.
With the streamlining efforts announced, the company expects annualized savings of approximately $500 million that will begin to be realized in 2018. These initiatives are part of a broad productivity plan underway at the company to improve its cost structure, particularly fixed... More
