2,300 Eli Lilly employees accept buyout as company cuts 3,500 jobs

More than 2,300 Eli Lilly employees accepted buyouts as the company plans to reduce its workforce in 2018 by 3,500 worldwide. The Indianapolis-based pharmaceutical giant announced job cuts in September, with 2,000 of the 3,5000 jobs impacting the U.S. The company expects to save about $500 million per year, starting in 2018 due to the reduction.