The latest re-org announcement is from Eli Lilly (NYSE:LLY). The company is getting braced for the Zyprexa patent expiration (and the possibility that Prasugrel and others won't be able to make up for as much lost revenue as they thought). Their target is a 14% head count reduction by the end of 2011.
For everyone's sake there, if they're really going to do that, I hope they do it quickly. Having that sort of thing hanging around over everyone's head is, to put it mildly, not good for anyone's quality of life (whether they're being let go or not). I haven't heard how these cuts will be distributed (across research, sales, administrative, etc.), but I suspect that details will start leaking out soon.