Eli Lilly & Co. to shed 5,500 jobs
Eli Lilly & Co. will shed about 5,500 jobs, or about 14 percent of its workforce, and reorganize to save $1 billion in costs, the company said today.
Eli Lilly said Monday that it planned to cut 5,500 jobs, or 13.5 percent of its work force, in a restructuring meant to bolster the company as it girds for generic competition by late 2011 on its top-selling Zyprexa schizophenia drug.