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German chemicals and pharmaceuticals giant Bayer announced the removal of 12,000 jobs as part of a major restructuring following Monsanto's takeover, allowing it to save 2, 6 billion euros per year starting in 2022.
The planned job cuts will affect in a statement, about one in ten of the 118,200 jobs in the group, "a significant number in Germany", has said the group.
Bayer has swallowed Monsanto into one of the largest corporate takeovers in Germany, at a cost of 63 billion euros in June.
But just two months later, a US court has awarded Bayer damages of several million dollars, the judge having concluded that his newly acquired subsidiary, Monsanto, should have warned a user of cancer risks related to its Roundup herbicide.
In announcing the restructuring on November 29, Bayer announced its intention to leave its animal health business to focus resources on its core business of pharmaceuticals, consumer health and crop science.
I By digesting Monsanto, it is its plant science division which will be among the hardest hit by job cuts, with 4,100 jobs to be filled.
The company planned to complete the reduction of its workforce by the end of 2021.
"These changes are necessary and lay the foundation for Bayer to improve its performance and agility. these measures, we aim to take full advantage of the growth potential of our businesses, "said Werner Baumann, chairman of the board of Bayer.
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