Eli Lilly plans to double its workforce inside of China this year, bringing the total up to 2,000. At the same time, the company announced a 5,500 employee reduction in its worldwide staff count that will help trim $1 billion in annual costs. Inside China, Lilly will double its sales force from 800 to 1600 so that it can expand its coverage in central and western areas of the country. The company will also add operations and accounting personnel. More details...

Stock Symbol: (NYSE: LLY)