Eli Lilly to Trim 3,500 American Jobs to Save $500 Million

Eli Lilly to Trim 3500 Jobs to Save $500 Million

Eli Lilly said Thursday it will lay off about 8% of its global workforce to cut costs as it invests in developing new drugs.

The drugmaker expects the layoffs will impact about 3,500 positions and realize annualized savings of roughly $500 million, which will be about equally split to improve the company’s cost structure and reinvest in the business, including product launches and clinical development for new indications and line extensions.

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