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Eli Lilly to layoff 5,500 employees by 2011

19. September 2009 02:38

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.

SOURCE: Industrial Info Resources

Posted in: Business / Finance

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