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The German pharmaceutical and agrochemical group Bayer plans to cut about 12,000 jobs worldwide until the end of the year 2021. This decision was announced Thursday by the company (29.11.2018). Most of the staff reductions will occur in the crop protection sector and in the general functions of the company. At the same time, Bayer agreed with the company committee in Germany a program to avoid further layoffs of Bayer AG staff in Germany until the end of 2025.
According to the company, the purpose of these measures is to increase the group's competitiveness and generate an annual contribution of 2,600 million euros, including expected synergies from the acquisition of Monsanto. In addition, the announcement adds that downsizing is part of a program with which the company aims to significantly increase productivity and profitability. This program also includes the sale of the animal health business, the sale of the Coppertone and Dr. Scholl brands and the sale of the 60% stake in the German chemical processing services provider, Currenta.
Several fronts
Bayer is currently fighting on several fronts. In the United States, following the Monsanto acquisition, the group is the subject of numerous litigation related to the controversial glyphosate herbicide. The complainants allege that Monsanto's US company, acquired by Bayer, had sold glyphosate, a suspected carcinogen, and failed to provide sufficient information on its harmfulness. Bayer strongly rejects these allegations. But the company's shares fell after the first defeat in court for glyphosate.
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