Eli Lilly plans to cut 4,000 jobs
Tuesday 12 October 1993
The US pharmaceuticals giant said it expected to reduce its workforce by 2,000, or about 10 per cent, by mid-1994, and shed 2,000 more over the next few years by restricting the use of contract workers.
Lilly said it expected third-quarter earnings to be dollars 0.98-dollars 1.00 per share. This compares with a loss of dollars 0.91 a year earlier.
The company said it would probably record several unusual pre-tax charges in the fourth quarter related to the early retirement programme and restructuring. It also said it was reducing the size of its London headquarters and its Vienna regional office.
However, Lilly still intends to expand pharmaceutical operations in Europe.
Lilly said its Hybritech unit was discontinuing involvement in radio-immune therapy businesses since it no longer fitted into the diagnostics business. Various options for the businesses are being explored.
The retirement programme is likely to be hardest felt in the state of Indiana, where about 12,000 are employed.
Co-creator Mark Gatiss dropped some very intriguing hints ahead of the BBC drama's return next year
London 'needs affordable housing'
- 1 'Not suppost to cry': 9-year-old lists the worst things about being a boy
- 2 Lee Evans announces his retirement from comedy on The Jonathan Ross Show
- 3 Iggy Azalea responds to Eminem rape lyrics: 'I'm bored of old men threatening young women'
- 4 These grandmas smoking weed for the first time are wonderful
- 5 Pastafarian former porn star Asia Lemmon allowed to wear colander in driving licence photo
Duchess of Alba dead: Billionaire Spanish duchess who lived life by her own rules, dies at 88
New York snowstorm: Death toll rises to 10 as residents battle with further snowfall
These grandmas smoking weed for the first time are wonderful
Woman opens professional cuddling shop – gets 10,000 customers in first week
Bill Cosby rape allegations explained: Why are these allegations coming out now? And why has nobody taken legal action?
Rochester by-election: Ukip gains second MP as Tory defector Mark Reckless holds seat
'Muslims pre-date Columbus in discovering America,' says Turkish president Erdogan
Rochester by-election: Labour MP Emily Thornberry resigns after posting white van and England flags tweet
France 'blocks' Russian sailors from boarding a warship
Former Tory PM Sir John Major says 'we would not have an NHS without migrants'
G20 summit: David Cameron warns Vladimir Putin that Russia's relationship with the West is at a 'fork in the road' over Ukraine
iJobs Money & Business
Voluntary Only - Expenses Reimbursed: Reach Volunteering: Age Concern Slough a...
Voluntary Only - Expenses Reimbursed: Reach Volunteering: Crossroads Care is s...
£20000 - £25000 per annum + OTE £35,000: SThree: We consistently strive to be ...
£50000 - £90000 per annum + benefits: Ampersand Consulting LLP: Markit EDM (CA...