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Most cuts will be made in Germany, country of the group of chemistry and pharmacy AFP / Archives
Bayer announced Thursday (29) the dismissal of 12,000 employees worldwide by 2021. A significant number of these layoffs is expected to take place in Germany, a group of chemicals and pharmaceuticals. The company is seeking to regain investor confidence after the sharp fall in its shares in recent months.
The lawsuit is part of the company's restructuring following the acquisition of its US rival Monsanto earlier this year in a deal worth more than $ 60 billion.
The company has announced plans to focus on the pharmaceutical, personal care and agriculture sectors and sell the animal health sector. The sale could bring $ 7 billion to the company, experts say.
In the personal care sector, Bayer wants to improve its profitability by canceling the Coppertone and Dr. Scholl product lines. Bayer also plans to sell its 60% stake in Currenta, a chemical services company.
The company also announced plans to invest to strengthen the innovation and competitiveness of its divisions. By the end of 2022, 35 billion euros will be invested, mainly in research and development.
The company is under strong investor pressure following a series of lawsuits over a glyphosate herbicide manufactured by Monsanto. Bayer shares have lost about one-third of their value since August, when a San Francisco jury found that prolonged exposure to glyphosate, an essential component of Monsanto's Roundup herbicide, would be the cause of cancer of a former gardener.
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