Lilly feeling the pain

Dateline: Wed 16 Apr 2008

The Star's John Russell reports today that 500 jobs will disappear at Lilly.

Here is what Russell writes:

"Under pressure to reduce costs, Eli Lilly and Co. said today it plans to cut up to 500 jobs in Indianapolis through a voluntary exit program.

"The cuts, which will take place in coming months, would bring Lilly's headcount in Central Indiana to about 12,000, down from more than 14,000 in 2004. It represents the largest single job-reduction action by Lilly in Indiana in recent years."

Russell says the bulk of the cuts -- 430 -- will come from manufacturing ops. The rest will come from research and development.

It's all part of Lilly's efficiency efforts, trying to stay cost-effective in a very competitive industry. But anything Lilly does is significant for Indianapolis and all of Indiana; we've been on their gravy train for a long time, and the ride is slowing.

Try to imagine the city without Lilly. It could happen, Still, new CEO John C. Lechleiter, a hometown boy, will do everything in his power to keep the company cost-efficient and based here.

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