More Than 2,300 Eli Lilly Employees Volunteer For Buyouts

INDIANAPOLIS, IN — More than a month after Eli Lilly and Co. announced it would cut 2,500 U.S. jobs by the end of the year, more than 2,300 employees have volunteered to take a buyout, Indianapolis Business Journal reports. IBJ says this move is creating one of the largest group departures from the Indianapolis-based drug-maker in years, despite being 200 short of the company's target number. According to IBJ, this shortage creates questions about whether Eli Lilly will layoff more employees to reach its target number.

With Indianapolis being home to the company's headquarters and several other operations, a large amount of the buyouts are expected to come from local employees.

Eli Lilly Continues Indianapolis Project Despite Job Cuts

Lilly recently announced it would cut 3,500 jobs worldwide, which is over 8 percent of its workforce.

According to IBJ, the company hasn't provided numbers or details of any layoffs or how close it is to achieving 3,500 cuts.

>> More Via ibj.com

Darron Cummings/AP