Eli Lilly & Co. (LLY) Cutting 3,500 Jobs
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 9/18/2026
- S&P 500, Nasdaq advance, turning the page on a tumultuous week
- Oil slides after China asks Iran to limit Houthi attacks on Saudi oil facilities
- Warren Buffett transitions to Berkshire’s chairman emeritus
- Is the S&P 500 in an "earnings bubble"? Goldman weighs in
- Wells Fargo cuts Netflix rating on engagement risk, weak slate
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
