Indiana-based Elanco announces plans to cut 420 jobs
GREENFIELD, Ind. (WISH) — Elanco, the animal health company spun off by Eli Lilly and Company in 2019, announced Monday it plans to cut 420 jobs.
The cuts comes as the company is shifting its focus from farm animal to pet Health.
The announcement did not indicate where the jobs would be located or an exact timeframe for the changes, but an Elanco spokesperson told News 8 that cuts would have a very limited impact in Indiana. In fact, Elanco plans to concentrate roles in Indiana and several other strategic locations.
The Greenfield, Indiana-headquartered company has around 9,000 employees worldwide.
In Indiana, the company also has facilities in Terre Haute and Clinton. The company is set to move its headquarters to Indianapolis in 2025.
Elanco announced Monday it grew 5% for the second consecutive quarter in the fourth quarter of 2023, and saw from 1%-3% growth in 2024 without the contribution of new product launches.
Elanco plans to reinvest the savings from the job cuts into launching three products in 2024 and “globalizing that innovation.”