Elanco to Cut 250 Jobs in 'Restructuring'

Posted: Updated:

Greenfield-based Elanco Animal Health Inc. (NYSE: ELAN) has announced plans to eliminate about 250 jobs as part of a restructuring effort. The company said in a news release Monday it expects to see at least $12 million in savings next year as a result of the move.

Elanco, which recently marked one year since its Initial Public Offering, says the job cuts are part of actions being implemented to "enhance productivity and drive efficiency. The actions include cuts from existing research and development operations in Prince Edward Island in Canada, ending certain operations at its site in Wusi, China, as well as streamlining operations at its Speke, England location.

"Our board and management team continually assess our organization to identify and execute opportunities to become a fit-for-purpose animal health company," said Todd Young, chief financial officer of Elanco. "While decisions that affect our team are difficult, today’s action will tighten our focus, centralize and strengthen key capabilities, and increase our agility to quickly meet the changing needs of our customers in a dynamic, global market. At the same time, these actions advance our productivity agenda and our margin expansion efforts, driving greater efficiency within our global footprint and allowing Elanco to focus investments in our growth areas."

A spokesperson for Elanco tells Inside INdiana Business the impact of the announcement will be felt primarily outside of Greenfield. "We are continuing to grow here in central Indiana as we build new capabilities required as an independent company."

Elanco says the restructuring will cost approximately $50 million, with the majority being incurred this quarter and the remainder being incurred next year. 

Just last month, Elanco announced plans to acquire Germany-based Bayer AG's animal health business in a $7.6 billion deal. The acquisition would make Elanco the second-largest animal health company by revenue. Company officials hope to close the deal by mid-2020.

  • Perspectives

    • Richardson is a practice lead with Centric Consulting.

      How to Create Consistent and Positive Customer Experiences with Your Brand

      Everyone knows that keeping the consumer happy is the first priority. The importance of considering the customer’s experience in all areas of engaging with your business, not just customer service is becoming even more clear. I’m seeing an increasing number of my peers in the marketing world take ownership of the customer experience with their brands. As a result, we’re all learning how to borrow and...



Company Name:
Confirm Email:
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections


  • Most Popular Stories

    • (image courtesy of The Times of Northwest Indiana)

      U.S. Steel Updates Layoff Notice to State

      Pittsburgh-based U.S. Steel Corp. (NYSE: X) has updated the State of Indiana regarding its previously announced layoffs at the East Chicago Tin Mill. The company says 314, rather than 307, workers will be displaced when the mill is idled this fall. 

    • Red Star announced plans to expand and add 18 jobs.

      Larwill Medical Device Maker to Expand, Add Jobs

      A Whitley County-based medical device maker has announced plans to expand its facility in Larwill which should mean new jobs. Red Star Contract Manufacturing Inc. says it will invest $1.6 million in real estate improvements and additional equipment and will create 18 new jobs by 2022. 

    • Regal Beloit is closing in Valparaiso. (photo courtesy; The Times of Northwest Indiana)

      Valpo Bearings Plant to Close, Eliminating 160+ Jobs

      Wisconsin-based Regal Beloit Corp. and the union representing workers have reached an agreement about the closing of a helicopter bearing factory in Valparaiso. According to our partners at The Times of Northwest Indiana, the decision will cost between 160 to 170 workers their jobs. 

    • Bob Stutz

      New Role For Salesforce Exec

      After three years on the job, Salesforce Marketing Cloud Chief Executive Officer Bob Stutz is moving into a new role. Stutz, who will remain in Indianapolis, is now executive vice president of strategic partners at Salesforce (NYSE: CRM).  Since arriving in Indianapolis, Stutz has overseen the establishment of the company’s regional headquarters in downtown Indianapolis, which included the Salesforce name being placed atop the state’s tallest building.

    • (WISH-TV Photo)

      Clif Bar Expands Indy Bakery

      California-based Clif Bar & Co. has completed a $10 million expansion of its commercial bakery in Indianapolis. The company says the project involved a more sustainable redesign of the facility for its employee-owners with a greater focus on energy efficiency.