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Company News

Elanco Animal Health to cut over 900 positions to lower costs

Sept 30 (Reuters) - Elanco Animal Health Inc said on Wednesday it would cut more than 900 positions across nearly 40 countries, in the first restructuring action since the closing of its $6.89 billion buyout of Bayer’s veterinary drugs unit.

The cost of the proposed actions is expected to be between $190 million and $210 million with $170 million to $190 million in severance and about $20 million in asset impairments and other charges. (Reporting by Manojna Maddipatla in Bengaluru; Editing by Maju Samuel)

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