This is not a good news day for pharmaceutical industry employees. First, Sanofi-Aventis acknowledges downsizing that will affect hundreds of workers. Johnson & Johnson's Tylenol recall scandal is claiming some 300 positions at its McNeil Consumer Healthcare unit. And now, Eli Lilly is letting go 340 IT personnel as part of a reorganization announced last fall to trim 5,500 jobs.
Actually, Lilly has already cut 140 jobs through retirements, resignations and an earlier round of layoffs, The Indianapolis Star writes. Of course, do the math and this means 200 more IT folks are going to be out of work soon -115 of those cuts will take place this month. Lilly employs about 1,250 people in IT.
The Lilly cost-cutting is designed to save about $1 billion since huge gobs of revenue will soon be lost to generic rivals to its best-selling meds. In recent months, the Star notes, Lilly has cut thousands of scientists, sales representatives, marketing and public relations professionals, along with other workers (see here).