Elanco Animal Health to cut about 380 jobs globally

Including some of its senior management

  
Commuters wear masks while waiting for a bus as the outbreak of the coronavirus disease (COVID-19) continues in the Manhattan borough of New York U.S., May 8, 2020. Image used for illustrative purpose.

Commuters wear masks while waiting for a bus as the outbreak of the coronavirus disease (COVID-19) continues in the Manhattan borough of New York U.S., May 8, 2020. Image used for illustrative purpose.

REUTERS/Lucas Jackson

Nov 30 (Reuters) - 

Elanco Animal Health Inc ELAN.N kicked off another round of layoffs on Tuesday, saying it would cut 380 positions globally as a part of a restructuring started after its $6.89 billion purchase of Bayer's BAYGn.DE veterinary drugs unit last year.

The layoffs, which would affect about 20% of its senior management, follow the company's decision in 2020 to cut about 900 positions across 40 countries and a reduction of about 330 positions in January.

The company had about 10,200 employees worldwide as of December end, according to its filing.

Elanco said it expected the latest move to deliver about $60 million in savings in 2022 and annual savings of about $70 million once the workforce reductions were fully implemented.

A part of the savings will be invested in growth areas such as digital operations, it said.

(Reporting by Amruta Khandekar; editing by Uttaresh.V and Aditya Soni) ((Amruta.Khandekar@thomsonreuters.com;))


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