https://www.ibj.com/articles/65293-...utm_medium=newsletter&utm_campaign=2017-09-07
September 7, 2017
...Eli Lilly and Co. plans to cut about 3,500 positions—or about 8.3 percent of its global workforce—by the end of the year and close several facilities in an effort to save $500 million.
In announcing the move Thursday morning, the Indianapolis-based drugmaker said the move will help it reduce fixed costs and invest more in “the next generation of medicines.”
Most of the job-cutting will come from a voluntary early-retirement program, which was announced to employees on Thursday and will be largely completed by Dec. 31, the company said. Details of the buyout plan were not made public.
It was unclear how many of the cuts will come in Indianapolis, where Lilly has its headquarters along with a huge research and development center and several manufacturing operations. Lilly is one of the city’s largest corporate employers...
September 7, 2017
...Eli Lilly and Co. plans to cut about 3,500 positions—or about 8.3 percent of its global workforce—by the end of the year and close several facilities in an effort to save $500 million.
In announcing the move Thursday morning, the Indianapolis-based drugmaker said the move will help it reduce fixed costs and invest more in “the next generation of medicines.”
Most of the job-cutting will come from a voluntary early-retirement program, which was announced to employees on Thursday and will be largely completed by Dec. 31, the company said. Details of the buyout plan were not made public.
It was unclear how many of the cuts will come in Indianapolis, where Lilly has its headquarters along with a huge research and development center and several manufacturing operations. Lilly is one of the city’s largest corporate employers...