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Not What the Doctor Ordered: Eli Lilly to Shed 5,500 Jobs by 2011
SUGAR LAND--September 18, 2009--Reported by Annette Kreuger, Industrial Info Resources (Sugar Land, Texas)--Earlier this week, Eli Lilly & Company (NYSE:LLY) (Indianapolis, Indiana) announced a massive global layoff plan to better fortify the company's defenses against the plagues of profit-killing generics. The grim diagnosis impacts 5,500 employees who will lose their jobs by 2011. Lilly expects to cut $1 billion in expenses by the end of 2011 through the planned job cuts and other measures.
Other companies featured: Wyeth (NYSE:WYE), Pfizer Incorporated (NYSE:PFE), Covance (NYSE:CVD)
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Industry Segment: Pharmaceutical & Biotech
Word Count: 635 Words
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